4investors | Börsen-News | Adhoc- und Unternehmensnews | Axel Springer NA

DGAP-Adhoc: Axel Springer SE: KKR announces the launch of a public takeover offer on the basis of an Investor Agreement with Axel Springer SE

Bild und Copyright: 360b / shutterstock.com.

Bild und Copyright: 360b / shutterstock.com.

12.06.2019, 07:19:54 (www.4investors.de - in Kooperation mit DGAP - EQS Group):




DGAP-Ad-hoc: Axel Springer SE / Key word(s): Offer/Change in Forecast

Axel Springer SE: KKR announces the launch of a public takeover offer on the basis of an Investor Agreement with Axel Springer SE
12-Jun-2019 / 07:19 CET/CEST

Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.

The issuer is solely responsible for the content of this announcement.

Disclosure of an inside information according to Article 17 MAR

Axel Springer SE: KKR announces the launch of a public takeover offer on the basis of an Investor Agreement with Axel Springer SE

Berlin, 12 June 2019
Today, Axel Springer SE entered into an Investor Agreement with a holding company controlled by funds advised by Kohlberg Kravis Roberts & Co LP (KKR) as well as with holding companies controlled by Dr. h.c. Friede Springer and by the chief executive offer Dr. Mathias Döpfner dealing with the terms and conditions of a strategic investment of KKR in Axel Springer SE. In accordance with this agreement, KKR's holding company announces today that it intends to launch a public takeover offer to all shareholders of Axel Springer SE at an offer price of EUR 63.00 per share in cash. The Executive Board and the Supervisory Board of Axel Springer SE, which have approved the execution of the Investor Agreement, welcome the announced public takeover offer and will support the public takeover offer, subject to the review of the offer document still to be published by the bidder.

The offer announced today represents a premium of approximately 31.5 % on the volume weighted average share price of Axel Springer shares as calculated by Bloomberg over the period of the last three months preceding the announcement of the negotiations for a potential strategic investment of KKR. In addition to other customary conditions, the public takeover offer shall be subject to a minimum acceptance rate of 20 % and obtaining of merger control clearance and other regulatory approvals.

Axel Springer SE was further informed that today the bidder, Dr. h.c. Friede Springer and Dr. Mathias Döpfner entered into a Shareholder Agreement. According to this agreement, Dr. h.c. Friede Springer and Dr. Mathias Döpfner will refrain from accepting the public takeover offer with regard to their shares held in Axel Springer SE, but will continue to be involved in Axel Springer SE to the same extent as before. Subject to the consummation of the public takeover offer, the bidder and the holding companies controlled by Dr. h.c. Friede Springer and by Dr. Mathias Döpfner will coordinate their conduct with respect to the company and will jointly exercise their voting rights in the future. Both will jointly support the Executive Board's growth strategy to increase the enterprise value in the long-term.

After the publication of the offer document, the Executive Board and the Supervisory Board of Axel Springer SE will issue and publish a reasoned statement on the public takeover offer in accordance with their statutory obligations.

In consideration of the announced public takeover offer, the Executive Board has decided to hold on to the investments planned for the implementation of its growth strategy for the fiscal year 2019 despite of the revenue development being weaker than planned, especially in the Job Classifieds business, due to the overall macro-economic development. Therefore, and also taking into account the digital tax which has meanwhile been passed in France, it results in a partial adjustment of the revenues and earnings development expected for 2019. With regard to the key figures listed below, the following development will be expected, with the organic development referring to an adjustment for consolidation and exchange rate effects:

- Revenues of the Group: decrease in the low single-digit percentage range (reported), until now: at the level of the prior year/growth in the low single-digit percentage range (organic), until now: increase in the low to mid single-digit percentage range.
- Revenues Classifieds Media: at the previous year's level to an increase in the low single-digit percentage range (reported), until now: increase in the mid single-digit percentage range/increase in the mid to high single-digit percentage range (organic), until now: increase in the high single-digit to low double-digit percentage range.
- Adjusted EBITDA of the Group: decrease in the mid single-digit percentage range (reported), until now: at the level of the prior year/at the level of the prior year (organic), until now: increase in the low to mid single-digit percentage range.
- Adjusted EBITDA Classifieds Media: decrease in the mid single-digit percentage range (reported), until now: at the level of the prior year/at the level of the prior year (organic), until now: increase in the mid single-digit percentage range.
- Adjusted EBIT of the Group: decrease in the high single-digit percentage range (reported), until now: decrease in the low to mid single-digit percentage range/decrease in the low single-digit percentage range (organic), until now: increase in the low single-digit percentage range.
- Adjusted EBIT Classifieds Media: decrease in the high single-digit to low double-digit percentage range (reported), until now: decrease in the low single-digit percentage range/decrease in the mid single-digit percentage range (organic), until now: increase in the low to mid single-digit percentage range.
- Adjusted earnings per share (Group): decrease in the high single-digit to low double-digit percentage range (reported), until now: decrease in the low single-digit percentage range/decrease in the low to mid single-digit percentage range (organic), until now: increase in the single-digit percentage range.

For all other key figures, the forecast as published most recently in the quarterly statement dated 7 May 2019 remains unchanged. For further explanations with respect to the relevant key performance indicators, please refer to page 37 f. of the Annual Report 2018.

For 2020, the continuation of the growth strategy will lead to an adjusted EBITDA significantly below than in 2019. In the years thereafter, a significant improvement of the adjusted EBITDA compared to the year 2020.


Contact:
Daniel Fard-Yazdani, Head of Investor Relations, Tel.: +49 30 2591 77425
Claudia Thomé, Co-Head of Investor Relations, Tel.: +49 30 2591 77421
ir@axelspringer.de








12-Jun-2019 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de

Language:
English
Company:
Axel Springer SE

Axel-Springer-Straße 65

10888 Berlin


Germany
Phone:
+49 (0)30 2591-77421
Fax:
+49 (0)30 2591-77422
E-mail:
ir@axelspringer.de
Internet:
www.axelspringer.de
ISIN:
DE0005501357, DE0005754238,
WKN:
550135, 575423,
Indices:
MDAX
Listed:
Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange
EQS News ID:
822907

 
End of Announcement
DGAP News Service



822907  12-Jun-2019 CET/CEST






(Werbung)

4investors-Newsletter

Exklusive Interviews und Analysen für Sie aus der 4investors-Redaktion!

Der Newsletter ist kostenlos. Sie können den Newsletter jederzeit wieder abbestellen. Wir speichern Ihre Mailadresse ausschließlich zum Versand des Newsletters und geben diese nicht weiter! Bitte beachten Sie unsere Datenschutzerklärung.

Weitere DGAP-News von Axel Springer NA

4investors-News zu Axel Springer NA

24.01.2020 - Axel Springer: Nächstes Übernahme-Angebot von KKR und Aktie vor Delisting
19.09.2019 - Axel Springer: Coverage wird beendet
27.08.2019 - Axel Springer: Eine neue Verkaufsempfehlung
15.08.2019 - Axel Springer Aktie: Wenig Euphorie nach den Zahlen
05.08.2019 - Axel Springer: KKR-Angebot überspringt Schwelle
05.07.2019 - Axel Springer: Annahmefrist für KKR-Übernahmeofferte gestartet
12.06.2019 - Axel Springer: KKR legt Angebot vor
06.06.2019 - Axel Springer: Zuschlag für die Aktie
30.05.2019 - Axel Springer: Erste Reaktionen auf die KKR-Gespräche
30.05.2019 - Axel Springer: KKR plant Einstieg
08.03.2019 - Axel Springer: Wachstum dank Digitalisierung
09.03.2018 - Axel Springer Aktie: Reaktionen auf Zahlen und Ausblick
11.12.2017 - Axel Springer will sich von aufeminin trennen
06.11.2017 - Axel Springer: Keine Überraschungen erwartet
10.06.2016 - Axel Springer meldet Übernahme
03.03.2016 - Axel Springer: Wachstum dank Internetsparte
30.09.2015 - Axel Springer: Hoher Kaufpreis
29.09.2015 - Axel Springer kauft Business Insider
04.03.2015 - Axel Springer: Erfolgreiches Jahr
02.03.2015 - Axel Springer: Ziele werden erreicht