Business News

Axel Springer sells its stakes in several regional newspapers at EUR 310 million

Thursday 05. February 2009 - Axel Springer AG is in final negotiations on the disposal of its stake in several regional newspapers in North and East Germany.

Verlagsgesellschaft Madsack GmbH & Co. KG, Hannover is about to purchase participations of Axel Springer AG in Kieler Nachrichten (24.5%), Lübecker Nachrichten (49%), Leipziger Volkszeitung (44.9%) and North German holding Hanseatische Verlags-Beteiligungs AG (23%). An additional stake of 5.1% in Leipziger Volkszeitung is to be acquired by Leipziger Medien Beteiligungs GbR. The purchase price for these participations is EUR 275 million; for Verlagsgesellschaft Madsack GmbH & Co. KG it amounts to EUR 263 million.
The stake of 50% of Axel Springer AG in Ostsee-Zeitung, Rostock, will at the same time been sold to Lübecker Nachrichten GmbH at a purchase price of EUR 35 million. The transaction volume in total amounts to EUR 310 million.

With the disposal of its minority participations Axel Springer AG focuses more consistently on investments in its own newspapers, the multi-media development of its brands and on acquisitions of new online growth businesses.

The consummation of the transaction is subject to approval by anti-trust authorities.