Axel Springer SE sells majority stake in Media Impact to KKR

KKR to acquire 75% of Axel Springer SE's stake in Media Impact

KKR to invest €350 million in Media Impact

Axel Springer SE has agreed to sell a 75% stake in its subsidiary, Media Impact, to KKR & Co. Inc. The transaction is expected to close in the first half of 2023, subject to regulatory approvals.

Media Impact is a leading media company in Central and Eastern Europe, with a portfolio of over 100 digital and print publications, as well as a significant presence in radio and television.

The transaction will value Media Impact at approximately €500 million. Axel Springer SE will retain a 25% stake in the company.

Mathias Döpfner, CEO of Axel Springer SE, said: "We are pleased to have found a strong partner in KKR for Media Impact. KKR's deep industry expertise and global reach will help Media Impact to continue its growth trajectory and expand into new markets."

Johannes Huth, Head of KKR in Germany, Austria and Switzerland, said: "We are excited to invest in Media Impact, a leading media company with a strong track record of growth. We believe that our investment will help Media Impact to continue to innovate and expand its offerings, both in traditional and digital media."

Friede Springer, Honorary Chairwoman of Axel Springer SE, said: "I am confident that KKR will be a good partner for Media Impact. KKR has a proven track record of investing in and supporting media companies."

The transaction is subject to regulatory approvals and is expected to close in the first half of 2023.