Axel Springer is one of the largest publishing groups in Europe. In Germany, it sells, among other things, the daily newspaper “Bild”. Finally, the business with the print media weakened, KKR, the new strategy is intended to support.
Axel Springer chief Executive, has pushed for the new strategy of the publisher’s advance (archive image)
The Axel Springer Verlag and the American financial investor KKR enter into a strategic partnership. KKR make to the shareholders a takeover offer of $ 63 per share, both companies said. Major shareholder Friede Springer, and Springer CEO Mathias Döpfner retained their share of about 45 percent.
Course refresher on the stock exchange
The offer price was welcomed on the stock exchange. The MDax-listed Springer shares rose in Frankfurt morning trade by almost 13 percent on 63,45 EUR. Before in may it was announced that Springer and KKR to negotiate, had not heard of the Springer stock, are long-time favorites of investors. Their course is lost within 12 months, around 26 per cent.
KKR was his experience in the media industry and the digitisation of the right partners, the growth strategy of the group to advance, said the publisher. “The Investor represents for Axel Springer, a strong strategic and financial Partner.” According to the Reuters news Agency, the KKR is created-initially for five years.
Less printed paper and more Online portals
Drivers Of Growth Online
Axel Springer tried, with Online news offered to compensate for the weak development of print media. The house of wool will be offered a world-leading provider of digital journalism and digital Section, said the publisher. Job and real estate portals as well as Online journalism, the growth drivers were last updated. Nearly three-quarters of consolidated sales were attributable to the digital business, it said. In the first quarter of 2019, the proceeds were 771,8 million euros, slightly below the prior-year period.
According to a report in the “Handelsblatt” has KKR of relevant experience in the German media sector. From 2006 to 2013, the financial investor was involved in the TV sehsender Pro Sieben Sat 1. Also, currently, the Americans were able to get involved in Germany: Together with television producer and media Manager Fred Kogel KKR build since the beginning of the year, a television and film production company in Germany.
fab/mak (rtr, dpa, Handelsblatt)