Axel Springer SE plans delisting / KKR to launch public delisting offer for Axel Springer shares

Axel Springer SE plans to withdraw from the stock exchange (delisting). A respective application will be made at the Frankfurt Stock Exchange prior to the expiration of the acceptance period of the delisting offer.

The withdrawal from the regulated market of the Frankfurt Stock Exchange requires a public delisting offer to the Axel Springer SE shareholders as a precondition so that shareholders can sell their shares prior to the termination of the stock listing. According to an agreement signed today with Axel Springer SE, KKR will make such an offer with an offer price amounting to EUR 63 in cash per share. This payment is equal to the offer price for the previous public tender offer which was closed in December 2019.

Following the closing of the previous voluntary public tender offer, KKR along with Friede Springer and Mathias Döpfner, formed a consortium in order to jointly further develop Axel Springer. Neither Friede Springer nor Mathias Döpfner will tender shares that are held by them directly or indirectly into the delisting offer. Together they hold approximately 45.4 percent of Axel Springer's share capital.

In 2019, Axel Springer and KKR entered into an investment agreement for a strategic partnership aimed at supporting the long-term growth strategy. Through a public tender offer as well as additional purchases, KKR has acquired approximately 44.9 percent of Axel Springer's share capital. In the public tender offer document of 5 July 2019 KKR has already announced its intention to propose a delisting to the other consortium members and to the Executive Board of Axel Springer SE following the successful tender offer.

The Executive Board and Supervisory Board will issue a Joint Reasoned Statement on the public delisting offer of KKR.