8/5/2019, 9:29 AM (Source: TeleTrader)
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KKR set to buy 20% of Axel Springer, take it private

More than 20% of Axel Springer SE's shareholders agreed to sell their stock to global investment firm KKR & Co. Inc., after which the German publishing group may be taken private, the Financial Times reported on Monday.

The offer has the support of both the largest individual stakeholder, Friede Springer, and the company's management, who plan to control the Axel Springer after the new consortium with KKR is formed.

Axel Springer SE in June announced it has entered an investment agreement with KKR to form a strategic partnership, under which the investment powerhouse a public tender for all outstanding shares of Springer at a price of €63 per share, a 39.7% premium over the media company's share price before the deal was announced.

Breaking the News / MA