PE Firm Invests $312M In Axel Springer Venture

Law360, New York (March 06, 2012, 12:00 PM ET) -- Connecticut private equity firm General Atlantic LLC has agreed to pay German publisher Axel Springer AG $312 million for a 30 percent equity stake in the company's newly formed digital classified advertisements business, both parties said Tuesday.

Axel Springer, a multimedia and publishing company based in Berlin, said it had formed a partnership with General Atlantic to develop the new company, Axel Springer Digital Classifieds GmbH.

Once the transaction is completed, Axel Springer will hold a 70 percent stake in new company, which will be based...
To view the full article, take a free trial now.
Try Law360 for free for seven days
Already a subscriber? Click here to login

Already have access?

  1. Forgot your password?
  2. Sign In

Get instant access to the one-stop news source for business lawyers

Required