KKR offers 63 euros per share to buy out Axel Springer minorities

KKR offers 63 euros per share to buy out Axel Springer minorities

Funds controlled by U.S. private equity investor KKR on Wednesday offered 63 euros a share to buy out minority shareholders in Axel Springer in a deal agreed with the German publisher's main shareholders.

FILE PHOTO: CEO of German publisher Axel Springer SE Doepfner holds a speech during the annual news
FILE PHOTO: CEO of German publisher Axel Springer SE Mathias Doepfner holds a speech during the annual news conference in Berlin, Germany, March 8, 2018. REUTERS/Hannibal Hanschke/File Photo

FRANKFURT: Funds controlled by U.S. private equity investor KKR on Wednesday offered 63 euros a share to buy out minority shareholders in Axel Springer in a deal agreed with the German publisher's main shareholders.

The takeover offer will be subject to reaching a minimum acceptance threshold of 20per cent of Springer's share capital, the bid vehicle acting on behalf of KKR said in a statement.

(Reporting by Douglas Busvine; Editing by Thomas Seythal)

Source: Reuters

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