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, register now.