Axel Springer and KKR near deal on €13.5bn break-up

German billionaire Mathias Döpfner and KKR are nearing a deal to split up Axel Springer, with KKR gaining majority control of the classifieds business in a €13.5bn valuation. The move would allow KKR to exit its investment after five turbulent years and enable Döpfner to cement his control over the company’s media outlets, including Politico and Business Insider. The split would free KKR and CPPIB from controversies in Axel Springer’s news business and allow Döpfner to expand his footprint in the US media market.

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