Please read our cookie notice for more information on the cookies we use and how to delete or block them. Axel Springer lowered its annual sales and profit forecast on Wednesday, blaming slower growth at its classified ad business.“Our growth plans will require significant investment in people, products, technology and brands over the next years,” Mr Doepfner said.
The company has diverse media brands (e.g. In the fiscal year 2018, Axel Springer generated 71 percent of revenues with its digital activities which also contributed 84 percent to earnings (adj. Another bidder has emerged for eBay's (EBAY +2.1%) classifieds business in one of the biggest sale processes since the onset of COVID-19, according to the Financial Times.Axel Springer… 71 percent of Axel Springer’s total revenues and 84 percent of adjusted EBITDA were generated by digital activities in the fiscal year 2018.The offer price will be EUR 63 per share in cash. KKR’s offer needs to be accepted by 20pc of shareholders and is subject to regulatory approval. Please click on "I understand" to view the presentation. Both have committed to form a consortium with KKR, subject to the successful closing of the public tender offer in order to jointly further develop Axel Springer.
Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. By providing information across its diverse media brands (among others BILD, WELT, BUSINESS INSIDER, POLITICO Europe) and classifieds portals (StepStone Group and AVIV Group) Axel Springer SE empowers people to make free decisions for their lives. KKR's 63-euros-a-share bid for Axel Springer is just shy of the stock's year high Source: Bloomberg The management, strategy and capital structure are unlikely to change dramatically.
KKR has become the biggest shareholder of German media group Axel Springer , paying 2.9 billion euros (US$3.2 billion) for a 43.54per cent stake, the U.S. private equity firm said on Monday. Today, the transformation from a traditional print media company to Europe’s leading digital publisher has been successfully accomplished. These beliefs, assumptions and expectations can change as a result of many possible events or factors, not all of which are known to KKR or are within its control. KKR’s offer is intended to enable a strategic investment in Axel Springer to support the company’s strategy in a partnership with Friede Springer and CEO Mathias Döpfner who together hold approximately 45.4 percent of Axel Springer’s share capital directly and indirectly. With our truly global network, our growth platform and over twenty years of experience in the German market, we will help the company implement the next phase of its long-term growth agenda,” said Christian Ollig, Managing Director and Head of KKR Germany.KKR has an exceptional track record in developing global market leaders in the media and technology sectors, having worked with companies such as Bertelsmann/BMG, ProSiebenSat1, SBS Broadcasting, Nielsen, Trainline, Visma, Scout24 Switzerland, GfK, GetYourGuide, Sonos, GoDaddy, and Tele München Group/Universum.The voluntary public tender offer will be subject to various customary conditions, including the receipt of regulatory approvals such as merger control, foreign investment control and media concentration, and a minimum offer acceptance of 20 percent of Axel Springer’s share capital. KKR sees opportunities to further develop Axel Springer and to strengthen its market position.
Read our community guidelines in full We are pleased to join Axel Springer on its journey ahead,” said Johannes Huth, Member and Head of KKR EMEA.“Axel Springer has undergone a successful period of digital transformation from which the company has emerged as a leading European digital powerhouse. The forward-looking statements are based on KKR’s beliefs, assumptions and expectations of its future performance, taking into account all information currently available to it. KKR's offer to buy out minority shareholders in Axel Springer has cleared its minimum acceptance threshold of 20%, both firms said on Monday, bringing a … This threshold was agreed between KKR, Friede Springer and Mathias Döpfner as an appropriate minimum level of participation with a view to the governance rights that shall apply for KKR as part of the consortium with Friede Springer and Mathias Döpfner as of successful closing of the tender offer.KKR is financing the offer primarily from its European Fund V. J.P. Morgan is acting as financial advisor, Unicredit is providing financing and Freshfields Bruckhaus Deringer and Simpson Thacher & Bartlett are acting as legal advisor to KKR.The voluntary public tender offer will only be made pursuant to an offer document to be approved by the German Federal Financial Supervisory Authority (BaFin). Any information on such purchases will be disclosed as required by law or regulation in Germany or any other relevant jurisdiction and on http://www.traviata-angebot.de.This presentation contains certain forward-looking statements pertaining to KKR & Co. Inc. and its consolidated subsidiaries (collectively “KKR”), including certain investment funds, vehicles and accounts that are managed by KKR (each, a “fund”). © 2020 Kohlberg Kravis Roberts & Co. L.P. All Rights Reserved. Find out more Therefore, Axel Springer’s shareholders will receive a premium of 40 percent to the closing price of EUR 45.10 per share on 29 May 2019, i.e. The investor agreement also states, amongst other things, that the editorial independence at Axel Springer will be preserved. This site uses cookies to provide you with a more responsive and personalized service. Friede Springer and Mathias Döpfner will not sell shares held by them directly or indirectly as part of the public tender offer. In particular, subject to their review of the offer document, the Executive Board and Supervisory Board of Axel Springer intend to recommend that Axel Springer shareholders accept the offer.
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