Business News

Focus on high-reach financial portal finanzen.net: Axel Springer sells its investments in investor-oriented media

Friday 14. May 2010 - Purchase and further operating by the management and shareholders

Through its subsidiary Axel Springer Financial Media, Axel Springer AG has sold its investments in wallstreet:online AG and wallstreet:online capital AG, as well as ZertifikateJournal AG. In the future, Axel Springer will focus its online business media activities on the high-reach financial portal finanzen.net . The three specialized online offerings will be purchased and operated further by the former management and the remaining shareholders.

The founder and former CEO of wallstreet:online, André Kolbinger, acquires Axel Springer’s 75.01 percent interest in the financial community wallstreet:online. Management Board member René Krüger and senior officer Ewald Brunen acquire Axel Springer’s 75.1 percent interest in the investment fund broker wallstreet:online capital as part of a management buy-out. The sale is pending, subject to the approval of the German Federal Financial Services Supervisory Office. The two former Management Board members and founders Christian W. Röhl and Werner H. Heussinger purchase Axel Springer’s 33.3 percent investment in ZertifikateJournal, a service provider for certificates and structured financial products.