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HomeAll newsMost read newsBusiness Leaders Biography
Public asset : 392,576,807 USD
Country of residence : Unknown
Linked companies : Axel Springer SE
Biography : Presently, Friede Springer is Chairman-Executive Board at Axel Springer Foundation and Managing Director at Axel Springer Gesellschaft fuer Publizistik GmbH & Co. Dr. Springer is also on the board of Axel Springer SE and Chairman-Executive Board at Friede Springer Stiftung.

Canada's CPPIB to join KKR in building Axel Springer stake

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10/15/2019 | 01:03pm EST
FILE PHOTO: Trading information for KKR & Co is displayed on a screen on the floor of the NYSE in New York

(Reuters) - Canada Pension Plan Investment Board (CPPIB) said on Tuesday it will invest at least 500 million euros ($551.95 million) in a KKR & Co Inc-owned holding firm conducting a public tender offer for the shares of German publisher Axel Springer.

In August, KKR became the biggest shareholder of Axel Springer, paying 2.9 billion euros for a 43.54% stake.

CPPIB said on Tuesday the investment by its European subsidiary will happen in the coming months and is subject to regulatory approvals.

The stakebuilding by KKR was done in concert with Friede Springer, the widow of the company's name-sake founder, and is aimed at taking the publisher private by the end of the year or in the first quarter of 2020.

(Reporting by C Nivedita in Bengaluru; Editing by Shinjini Ganguli)

Stocks treated in this article : Axel Springer SE, KKR & Co. Inc.
Stocks mentioned in the article
ChangeLast1st jan.
AXEL SPRINGER SE -0.47% 63.2 Delayed Quote.27.99%
KKR & CO. INC. -1.12% 29.13 Delayed Quote.48.40%
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