DGAP-Media / 2020-01-23 / 22:39
*KKR to launch public delisting offer for all outstanding **Axel Springer SE
shares *
23 January 2020 - Traviata B.V., a holding company owned by funds advised by
KKR, today announced its intention to make a public delisting offer
("Delisting Offer") for all outstanding shares (ISIN: DE0005501357,
DE0005754238) of Axel Springer SE ("Axel Springer") that are not already
held by KKR.
Shareholders will receive EUR 63 per Axel Springer share in cash,
corresponding to the offer price of the preceding voluntary public tender
offer that was completed in December 2019. Following the closing of the
voluntary public tender offer in December 2019, KKR is now one of two major
shareholders of Axel Springer, holding approximately 44.9 percent of Axel
Springer's share capital.
Following the closing of the previous voluntary public tender offer, KKR
along with Dr. hc. Friede Springer and Dr. Mathias Döpfner, formed a
consortium in order to jointly further develop Axel Springer. Neither Dr.
hc. Friede Springer nor Dr. Mathias Döpfner will sell shares that are held
by them directly or indirectly as part of the Delisting Offer. Together they
hold approximately 45.4 percent of Axel Springer's share capital.
In addition, KKR and Axel Springer today entered into an agreement, pursuant
to which Axel Springer has undertaken, to the extent permissible by law, to
apply for the revocation of the admission to trading of the Axel Springer
shares (ISIN: DE0005501357) on the regulated market (Prime Standard) of the
Frankfurt Stock Exchange (so-called delisting) prior to the expiration of
the acceptance period of the Delisting Offer.
The Delisting Offer will only be made pursuant to an offer document to be
approved by the German Federal Financial Supervisory Authority
(Bundesanstalt für Finanzdienstleistungsaufsicht, BaFin). This offer
document will be published following receipt of permission from BaFin, at
which point the Delisting Offer will commence. The offer document and other
information pertaining to the Delisting Offer will be made in accordance
with the German Securities Acquisition and Takeover Act (Wertpapiererwerbs-
und Übernahmegesetz - WpÜG) on the following website:
www.traviata-angebot.de/delisting. The acceptance period will be four weeks
starting from publication of the offer document. There will be no additional
acceptance period. The Delisting Offer will not be subject to any closing
conditions.
###
*KKR Media Contacts: Germany*
Raphael Eisenmann Stephanie Lorbach
Hering Schuppener Consulting Hering Schuppener Consulting
Phone: +49 69 92 18 74-86 Phone: +49 69 92 18 74-24
Mobile: +49 160 90 61 11 07 Mobile: +49 171 86 29 942
Email: Email:
reisenmann@heringschuppener.com slorbach@heringschuppener.com
*KKR Media Contact:
International *
Alastair Elwen
Finsbury
Phone: +44 207 251 3801
Mobile: +44 7557 549 325
Email:
alastair.elwen@finsbury.com
*About KKR *
KKR is a leading global investment firm that manages multiple alternative
asset classes, including private equity, energy, infrastructure, real estate
and credit, with strategic partners that manage hedge funds. KKR aims to
generate attractive investment returns for its fund investors by following a
patient and disciplined investment approach, employing world-class people,
and driving growth and value creation with KKR portfolio companies. KKR
invests its own capital alongside the capital it manages for fund investors
and provides financing solutions and investment opportunities through its
capital markets business. References to KKR's investments may include the
activities of its sponsored funds. For additional information about KKR &
Co. Inc. (NYSE: KKR), please visit KKR's website at www.kkr.com and on
Twitter @KKR_Co.
*About Axel Springer *
Axel Springer is a media and technology company and active in more than 40
countries. By providing information across its diverse media brands (among
others BILD, WELT, BUSINESS INSIDER, POLITICO Europe) and classifieds
portals (StepStone Group and AVIV Group) Axel Springer SE empowers people to
make free decisions for their lives. Today, the transformation from a
traditional print media company to Europe's leading digital publisher has
been successfully accomplished. The next goal has been identified: Axel
Springer wants to become global market leader in digital content and digital
classifieds through accelerated growth. The company is headquartered in
Berlin and employs more than 16,300 people worldwide. In the fiscal year
2018, Axel Springer generated 71 percent of revenues with its digital
activities which also contributed 84 percent to earnings (adj. EBITDA).
*Disclaimer*
This announcement is neither an offer to purchase nor a solicitation of an
offer to sell shares of Axel Springer. The definite terms of the Delisting
Offer, as well as further provisions concerning the Delisting Offer, will be
published in the offer document following permission by the German Federal
Financial Supervisory Authority (Bundesanstalt für
Finanzdienstleistungsaufsicht) to publish the offer document. The Delisting
Offer for the purchase of shares of Axel Springer has not yet begun.
Investors and holders of shares of Axel Springer are strongly advised to
read the offer document and all other documents regarding the Delisting
Offer when they become available, as they will contain important
information.
The Delisting Offer will be published exclusively under the laws of the
Federal Republic of Germany and certain applicable provisions of the
securities laws of the United States of America. The Delisting Offer
documentation as well as further documents regarding the Delisting Offer
will be available at www.traviata-angebot.de/delisting. Any contract
concluded on the basis of the Delisting Offer will be exclusively governed
by the laws of the Federal Republic of Germany and is to be interpreted in
accordance with such laws.
To the extent permissible under applicable law or regulation, and in
accordance with German market practice, Traviata B.V., its affiliates or its
brokers may purchase, or conclude agreements to purchase, shares of Axel
Springer, directly or indirectly, outside of the scope of the Delisting
Offer, before, during or after the period in which the offer remains open
for acceptance. This also applies to other securities which are directly
convertible into, exchangeable for, or exercisable for shares of Axel
Springer. These purchases may be completed via the stock exchange at market
prices or outside the stock exchange at negotiated conditions. Any
information on such purchases will be disclosed as required by law or
regulation in Germany or any other relevant jurisdiction and on
www.traviata-angebot.de/delisting.
End of Media Release
Issuer: KKR & Co. Inc.
Key word(s): Internet and Multimedia
2020-01-23 Dissemination of a Press Release, transmitted by DGAP - a service
of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.dgap.de
959973 2020-01-23
(END) Dow Jones Newswires
January 23, 2020 16:39 ET (21:39 GMT)
