On August 23, 2018, a KKR logo was prominently displayed on the floor of the New York Stock Exchange (NYSE), symbolizing the firm’s prominence. Fast forward to this summer, German billionaire Mathias Doepfner and KKR reached a preliminary agreement to divide the media conglomerate Axel Springer, a source informed Reuters on Saturday.
Next week, a crucial meeting of Axel Springer’s supervisory board is expected, wherein discussions will revolve around a deal that would grant KKR majority control over the company’s lucrative classified ads division. According to the Financial Times, this deal values Axel Springer at 13.5 billion euros ($14.95 billion), with the classifieds business alone estimated to be worth over 10 billion euros.
While a source familiar with the negotiations indicated that the valuation figures are still tentative and could change, they are believed to be within that range. The formal signing of the deal might take several months; however, an announcement from both parties may be anticipated as early as next week.
As of now, Axel Springer has chosen not to comment on the matter.
Original Story https://www.cnbc.com/2024/09/14/axel-springer-and-kkr-near-deal-on-13point5-billion-break-up-ft-reports.html
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