Publisher Axel Springer is selling its online classifieds division, including Immoweb, Stepstone, AWIN and SeLoger, to North American investors KKR and CPP Investments.
The eponymous publishing company comes back under the control of the Springer family and CEO Mathias Döpfner, Friede Springer, widow of founder Axel Springer, and her grandson. The latter holds two percent of the shares, the other two 98 percent.
This morning Döpfner (Photo) announced the proposed transaction, the foundation of which was laid five years ago. At that time, KKR and CPP Investments entered the publishing company. The CEO outlines that those involved formulated a long-term vision that is now almost literally coming true. In addition, Axel Springer will become part of the Springer Family and will benefit from the international classifieds branch through a fifteen percent stake.
The world’s largest operator of online classified ads is the Norwegian Adevinta, of which Marktplaats.nl is a part.
KKR and CPPIB currently hold a combined 48.5 percent stake in Axel Springer. After the transaction closes, expected in the first half of 2025, they will hold 85 percent of the shares. Julian Deutz will become CEO of this AS Classifieds.
By then, Axel Springer’s media arm would include titles such as BILD, Business Insider, POLITICO, WELT, idealo, Bonial, Morning Brew, Dyn, Emarketer and the joint venture Ringier Axel Springer Poland with ONET and FAKT.
Source: www.emerce.nl
