Bloomsbury is selling its German subsidiary Bloomsbury Verlag GmbH to a subsidiary of Swedish media company Bonnier AB, announcing a strategic publishing partnership with Piper Verlag, a company in the Bonnier AB Group.
The sale is expected to complete in the next few weeks.Bloomsbury Berlin will continue to bring authors to the German market from Bloomsbury Publishing's international list of authors.
As of 28th February 2011, the publisher reported Bloomsbury Verlag had gross assets of £8.1m.
Bloomsbury c.e.o. Nigel Newton said: "The future of Bloomsbury in Germany is now strengthened through this new strategic partnership with Piper, one of Germany's leading literary publishers. We look forward to our cooperation with them as we bring some of the most successful international authors commissioned by our editors in London, New York, and Delhi to the German market."
This follows Bloomsbury’s move to set up its own business in India, announced earlier this month