Axel Springer: US investor KKR reaches stake of more than 40 percent

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KKR reaches stake of more than 40 percent in Axel Springer

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ARCHIVE - 02.05.2019, Berlin: Workers attach a newly designed logo of the media company Axel Springer over the Axel Springer Passage. The media house includes "Bild", "Die Welt" and the "BZ". The US financial investor KKR has taken a major hurdle for joining Axel Springer. The Americans have acquired the necessary number of shares for their takeover bid, according to a statement by Axel Springer. (To dpa "US investor KKR on minimum threshold at Springer takeover") Photo: Kay Nietfeld / dpa +++ dpa broadcast +++ ARCHIVE - 02.05.2019, Berlin: Workers attach a newly designed logo of the media company Axel Springer over the Axel Springer Passage. The media house includes "Bild", "Die Welt" and the "BZ". The US financial investor KKR has taken a major hurdle for joining Axel Springer. The Americans have acquired the necessary number of shares for their takeover bid, according to a statement by Axel Springer. (To dpa "US investor KKR on minimum threshold at Springer takeover") Photo: Kay Nietfeld / dpa +++ dpa-Bildfunk +++

Media group Axel Springer enters into a strategic partnership with US investor KKR

Source: dpa

The US investment giant KKR has secured more than 40 percent of the shares in the media group Axel Springer (WELT, "Bild"). The result is a "very strong foundation for the planned strategic partnership," said Springer CEO Döpfner.

Dhe American financial investor KKR has achieved a stake of 42.5 percent in the media group Axel Springer (WELT, "Bild"). This rate was reached after the expiration of the additional acceptance period on 21 August at midnight, as Springer and KKR announced on Monday.

In addition, agreements to acquire 1.04 percent of the shares were concluded outside the takeover bid. The execution of the offer remains subject to antitrust, foreign trade and media concentration law approvals.

After a first deadline of 2 August, KKR already had 27.8 percent of the share capital. In the subsequent period, the offer was accepted for a further 14.7 percent of the shares. This includes shares of the two Springer grandchildren Ariane Melanie Springer and Axel Sven Springer in the total amount of about 3.7 percent of the share capital. Together, they now hold around six percent of the group.

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ARCHIVE - 10.01.2019, Berlin: Mathias Döpfner, President of the Association of German Newspaper Publishers (BDZV) and Chairman of the Board of Axel Springer SE, speaks in an interview with the German Press Agency (dpa). (to dpa: "Springer Group confirms discussions with KKR about participation") Photo: Britta Pedersen / ZB / dpa +++ dpa-Bildfunk +++

KKR wanted to acquire a total of at least 20 percent of the share capital and plans to remove Springer from the stock market. The US financial investor offered 63 euros per share. The majority shareholder Friede Springer, which controls 42.6 percent of the shares, and the CEO, Mathias Döpfner, who owns 2.8 percent of the shares, want to retain their holdings.

"The result of the offer is a very strong foundation for the planned strategic partnership with KKR," said Döpfner. "In the coming months, we will focus on implementing our growth strategy, which we will continue to accelerate."

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Axel Springer CEO Mathias Döpfner: "Who does not invest makes a mistake"

Springer, headquartered in Berlin, includes "Bild" and WELT, as well as the "Business Insider" news site, the "Upday" news app, as well as classified ad portals such as "Immonet" and "Stepstone". The group also operates the TV news channel WELT. Last year, the company increased its sales by 4.1 percent to 3.2 billion euros.

KKR was founded in New York in 1976 by Henry Kravis and George Roberts. The company describes itself as a leading global investment firm and has a fund volume of around $ 200 billion. Together with media manager Fred Kogel, KKR is currently building a new German company in the film and television sector and has acquired a number of production companies and distribution companies.

(TagToTranslate) Financial Investors (t) Springer (t) Peace (Axel Springer AG) (t) Axel Springer (t) Kravis (t) Henry (t) Döpfner (t) Mathias (t) New York (t) To Springer ( t) Axel Sven Springer (t) Ariane Melanie Springer (t) KKR (t) Axel Springer (t) Journey (s) Friede Springer (t) Fred Kogel

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