Goldbach leans on

Financing Goldbach Media receives substantial support from investor 3i for the further expansion of its cross-media business.<<br />3i, a European private equity company with over 100 investments worldwide in the media sector alone, is acquiring a 10 percent stake in the cross-media company Goldbach Media AG. Goldbach is transferring shares from its own portfolio to the investor. With this investment, 3i is providing growth capital for the expansion of Goldbach Media AG in Switzerland and for its expansion in Austria. Markus Reich, one of the directors of 3i Switzerland, describes the reason for 3i's involvement as follows: "In addition to an excellent market position, Goldbach Media AG has a professional management team, outstanding customer relationships and strong growth potential." Goldbach, which achieved sales of CHF 145 million and breakeven in 2003, will grow by 15 to 20 percent in the current year, according to Michael Petersen, also a 3i director. He added: "This growth rate can also be expected in the coming years." He also pointed out that his company remains involved in such investments for an average of four to seven years. 3i is also prepared to provide further funding over and above the planned investments if necessary. However, nothing concrete is currently planned. (mk)