Axel Springer SE (SPR.XE) said late Wednesday that it is negotiating with KKR & Co.
KKR, -1.49%
for the U.S. private equity firm to make a strategic investment in the company.
The German publishing group, which owns the Bild newspaper, said KKR can launch an offer for minority shareholders to tender their shares once it has reached an agreement with major shareholders Friede Springer and Chief Executive Mathias Doepfner.
Ms. Springer, who is the widow of the group’s founder, and Mr. Doepfner don’t intend to sell their shares, the company said.
No agreement has been signed and there isn’t any guarantee that KKR will go ahead with the offer, Axel Springer said.
“Legal, tax and financial feasibility still needs to be reviewed in detail by the parties,” Axel Springer said.
Neither company disclosed a potential deal value. Axel Springer’s market capitalization is around 4.87 billion euros ($5.43 billion) based on Wednesday’s closing price.
Source : MTV
