The grandchildren of the founder of German publisher Axel Springer have tendered some of their shares to KKR, the U.S. private equity investor that has offered to buy out minority shareholders.
Ariane Springer and Axel Sven Springer sold approximately 3.7% of the share capital in the business but will retain the rest of their holdings as independent shareholders, KKR said in a statement on Friday.
KKR had already secured a 27.8% stake in Axel Springer via its offer of 63 euros per share, which has been extended on the same terms until Aug. 21. It has struck a five-year alliance with Friede Springer – widow of the company’s founder – and CEO Mathias Doepfner, who between them hold 45.4%.
Ariane and Axel Sven Springer, who are not party to the KKR deal, previously owned 9.8% of the company.
Source: Reuters.com