Axel Springer reaches an agreement with KKR for the private-equity firm to buy out its minority shareholders
An advertisement for tabloid newspaper Bild, published by Axel Springer, inside the company's offices in Berlin. Photo: Krisztian Bocsi/Bloomberg News By Ruth Bender June 12, 2019 5:45 a.m. ET BERLIN— Axel Springer SE SPR 11.79% said Wednesday it reached an agreement with KKR KKR 0.33% & Co. for the private-equity firm to buy out its minority shareholders in a deal valuing the German media company at €6.8 billion .
Friede Springer, widow of the media company’s namesake founder who controls 42.6% of the company’s shares, and Chief Executive Matthias Döpfner, who owns 2.8%, will retain their shares and continue to be involved in Axel Springer to the same extent as before, the company said. The company said the partnership with KKR would help achieve its goal of becoming “the leading global provider of digital content and digital classifieds.”
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