Germany: Axel Springer with new shareholder structure
At Europe's largest publishing house, Hellman & Friedman, the largest outside investor, and Springer CEO Döpfner sold substantial blocks of stock.
Hellman & Friedman, the largest external investor in Europe's largest publishing house, and Springer Group CEO Döpfner sold substantial blocks of shares.
Financial investor Hellman & Friedman (H & F) and Axel Springer CEO Mathias Döpfner have sold ten percent of the publishing group's shares for a total of 441 million euros. According to Springer, the fixed unit price was 122 euros, which was at the lower end of the offer range. The buyers were almost exclusively institutional investors from Germany and abroad. The shares opened at 123.75 euros on the stock exchange on Thursday. With 3.6 million shares, all of the offered shares were placed.
H & F has thus also allocated the placement reserve of 340,000 shares. The investor has thus halved its stake to 9.4 percent. H & F acquired the shares three years ago.
Springer Group CEO Döpfner sold 211,000 shares for a total of 25.7 million euros. He is parting with some of his shares in order to finance the purchase of the shares, which he had at a preferential price of 77 euros in the summer of 2006, writes the Süddeutsche Zeitung. Axel Springer Gesellschaft für Publizistik remains the majority shareholder with a stake of a good 50 percent.
Financial investor Hellman & Friedman (H & F) and Axel Springer CEO Mathias Döpfner have sold ten percent of the publishing group's shares for a total of 441 million euros. According to Springer, the fixed unit price was 122 euros, which was at the lower end of the offer range. The buyers were almost exclusively institutional investors from Germany and abroad. The shares opened at 123.75 euros on the stock exchange on Thursday. With 3.6 million shares, all of the offered shares were placed.
H & F has thus also allocated the placement reserve of 340,000 shares. The investor has thus halved its stake to 9.4 percent. H & F acquired the shares three years ago.
Springer Group CEO Döpfner sold 211,000 shares for a total of 25.7 million euros. He is parting with some of his shares in order to finance the purchase of the shares, which he had at a preferential price of 77 euros in the summer of 2006, writes the Süddeutsche Zeitung. Axel Springer Gesellschaft für Publizistik remains the majority shareholder with a stake of a good 50 percent.
