Iconic Tupperware Brands seeks Chapter 11 bankruptcy
Americans can now renew passports online and bypass cumbersome paper applications
Wealthy families getting more bullish on risk assets, Citi survey shows
CVC urges Deutsche Bahn to reconsider Schenker sale to DSV, letter shows
To American revolutionaries, patriotism meant fair dealing with one another
Rising rivers threaten southern Poland as flooding recedes elsewhere in Central Europe
WNBA awards Portland an expansion franchise that will begin play in 2026
Rogers to buy Bell's stake in Maple Leaf for $3.46 billion
By Klaus Lauer
(Reuters) -German billionaire Mathias Doepfner and KKR reached a fundamental deal in summer to split up the media giant Axel Springer, a source familiar with the situation told Reuters on Saturday.
The two sides are expected to discuss the proposed structure of a deal that would give KKR majority control of the company’s profitable classifieds business at a meeting of its supervisory next week, the source said.
The deal values the whole company at 13.5 billion euros ($14.95 billion), including more than 10 billion for the classifieds business, the Financial Times reported on Saturday. The source told Reuters the evaluation is not final yet, but could be around those numbers.
Signing the deal may still take months, but both parties may make an announcement next week, the source said.
Axel Springer declined to comment.
($1 = 0.9029 euros)
(Reporting by Klaus Lauer in Berlin, Nilutpal Timsina in Bengaluru and Maria Martinez in Berlin; Editing by David Gregorio and Louise Heavens)
