Axel Springer SE / Key word(s): Mergers & Acquisitions/Strategic Company Decision
29.09.2015 12:52

Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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Ad-hoc Announcement

Berlin, September 29, 2015

Ad-hoc Announcement in accordance with § 15 WpHG

Axel Springer acquires U.S. business news portal Business Insider
Today Axel Springer SE has, through a subsidiary, concluded a binding agreement with Business Insider, Inc., based in New York, USA, on the acquisition of approximately 88% of the shares in the company. The purchase price based on 100% amounts to USD 442 million (currently approximately EUR 395 million) on the basis of a cash and debt free valuation of USD 390 million (currently approximately EUR 348 million). The valuation corresponds to an amount of USD 343 million (currently approximately EUR 306 million) for the 88% of the shares that Axel Springer is acquiring. Axel Springer already holds a stake of approximately 9 % in the company. Bezos Expeditions, the personal investment company of Jeff Bezos, will hold the further shares. Business Insider, Inc. operates one of the leading digital offerings for business news globally under "businessinsider.com" with 76 million monthly Unique Visitors (Comscore). Henry Blodget, Founder, Chief Executive Officer and also Editor in Chief, and Julie Hansen, Chief Operating Officer and President, will continue to lead the company in their respective functions. They will also remain significantly invested in Business Insider through an extensive, long-term equity incentive.
The transaction is an essential component of Axel Springer's strategy to grow with digital journalistic offerings in English-language geographies. In addition to the offering on "businessinsider.com" Business Insider operates other topic-specific news services; internationally, the company is currently represented with local editions or licenses in 7 other countries besides the U.S.

The transaction is still subject to approval by the relevant antitrust authorities.


29.09.2015 The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de

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Language:     English
Company:      Axel Springer SE
              Axel-Springer-Straße 65
              10888 Berlin
              Germany
Phone:        +49 (0)30 2591-77421
Fax:          +49 (0)30 2591-77422
E-mail:       ir@axelspringer.de
Internet:     www.axelspringer.de
ISIN:         DE0005501357, DE0005754238
WKN:          550135, 575423
Indices:      MDAX
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover,               Munich, Stuttgart
 
End of Announcement DGAP News-Service  

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