Axel Springer SE is exploring a sale of popular German finance site and trading platform finanzen.net GmbH, two sources familiar with the matter told Reuters. The media group, advised by investment bank Houlihan Lokey (HLI.N), opens new tab, has invited bidders to submit indicative offers for the unit in the coming weeks, the sources said, speaking on condition of anonymity because the talks are private. Private equity groups including Cinven Limited, Vitruvian Partners LLP and Verdane were among the parties that were participating in the sale process, one of the sources said.

Finanzen.net could be valued at around EUR 250 million ($271 million) in a deal, the second source added. Spokespeople for Axel Springer and its private equity backer KKR & Co (KKR.N) declined to comment. Cinven and Vitruvian declined to comment and Verdane did not respond to a request for comment.