KKR Deal Values German Publisher Axel Springer At €6.8B
Law360 (June 12, 2019, 3:01 PM EDT) -- A holding company owned by KKR-advised funds plans to make a voluntary tender offer for Axel Springer SE, an offer that implies a roughly €6.8 billion ($7.68 billion) equity value for the German publisher, the companies said Wednesday.
KKR said in its statement that Traviata II Sàrl will offer €63 in cash for each Axel Springer share. A minimum of 20% of the company’s shares must be tendered in the offer, the companies said. KKR said the publisher’s CEO Mathias Döpfner and supervisory board member Friede Springer, whose late husband founded the company, will not be selling their shares in the offer....
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