Business News

Axel Springer secures approx. 15 percent of the shares of the international online job portal StepStone

Thursday 11. December 2008 - Axel Springer AG has secured approx. 15 percent of the shares of StepStone ASA, Oslo, and has the intention to increase its stake up to a maximum of 33 percent for a price of up to 7 NOK (approx. EUR 0,80) per share through on- and off-market purchases on a first-come, first-served bookbuild basis.

A public take over offer is not planned at this point. J.P. Morgan Securities Ltd. is acting as broker for Axel Springer in relation with the transaction.

Through the acquisition Axel Springer pursues its strategic goals of internationalization and digitization.

StepStone is a internationally leading provider of E-Recruiting-Solutions. Main business operations are online recruitment businesses and hosted talent management solutions. On the German market for online job portals Axel Springer AG already has a good position through its 49,9 percent participation in StepStone Deutschland AG. Through the participation in StepStone ASA there is the opportunity to enter also on an European scale in the fast growing market for online job portals.