As part of KKR’s acquisition of majority stakes into Germany’s Axel Springer SE, the publishing giant’s largest shareholders are now selling parts of their shares to the private equity giant.
The company said in a statement that grandchildren of company founder Axel Springer, Ariane Melanie Springer and Axel Sven Springer, have decided to accept the voluntary public tender offer by Traviata II S.à r.l. for parts of their shareholdings in Axel Springer SE. Traviata II S.à r.l. is a holding company owned by funds advised by KKR.
As part of the deal, Ariane Melanie Springer and Axel Sven Springer will accept the tender offer for shares representing approximately 3.7 percent of the share capital of Axel Springer SE in the course of the ongoing additional acceptance period. With their remaining shares, they will continue to be independent shareholders of the company.
“My sister and I are convinced of the entrepreneurial concept for the further development of Axel Springer. We therefore back the tender offer and intend to use the remaining part of our shareholdings to further support the company’s development and its growth path,” said Axel Sven Springer.
Axel Springer said in the statement that shareholders who have not yet accepted the offer can do so within the additional acceptance period, which will expire at midnight (CEST) on 21 August 2019.