New investor for Sit-Up TV
Munich, July 2012 - The Munich-based AURELIUS Group (ISIN DE000A0JK2A8) is selling a majority stake of british Sit-Up Group. to a strategic investor. Due to the entry of this investor via capital increase, AURELIUS’ shareholding in Great Britain’s second-biggest home-shopping provider has fallen under about 20%. Sit-Up will therefore be deconsolidated by the end of July 2012.
The company that has been acquired by AURELIUS in 2009 is the second-biggest home-shopping provider in Britain. The company runs three interactive home-shopping channels: bid tv, price-drop tv and speed auction tv, each with their own website on which their complete ranges are offered. Sit-Up TV sells its broad product range via an innovative price mechanism involving an auction format in which the prices fall during the bidding process and the participants need only pay the lowest price. This format gives Sit-Up TV a unique positioning in the marketplace.