American KKR offers to buy stake in Axel Springer
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The German publishing giant Axel Springer signed an agreement with US privat equity fund KKR, under which KKR offered $63 per Axel Springer share. The price is almost by one-third higher than the average in three months.
The American fund will buy at least 20 percent in Axel Springer. Friede Springer, the owner of 42 percent stake in the company, said in a statement that partnering with KKR would allow for new investments.
