Axel Springer is reportedly close to reaching a deal with KKR to part ways
German billionaire Mathias Döpfner and KKR is close to a deal to split media giant Axel Springer, the Financial Times reports.
The two sides are expected to discuss the proposed structure of a deal that would give KKR majority control of the company’s profitable classifieds business at a supervisory board meeting on Thursday, the FT reported, citing four unnamed people familiar with the matter.
The deal values the entire company at €13.5 billion ($15 billion), including more than €10 billion for the classifieds business, the FT said. Two of the people told the FT that the deal had been discussed multiple times at previous board meetings.
A deal would allow Döpfner, who has been CEO since 2002, to consolidate his control over the company’s media assets, the FT said. These include US news sites Politico and Business Insider as well as German tabloid Bild and broadsheet Die Welt.
Axel Springer and KKR declined to comment to the FT.
