General Atlantic offloads Axel Springer Digital Classified stake

Following the transaction, Axel Springer will own all the shares in the independent company that holds its digital assets.

As part of the transaction, General Atlantic received almost 9 million new shares in Axel Springer, resulting in an 8.3% stake.

Previous funding
In March 2012, General Atlantic invested €237m for a 30% stake in Axel Springer Digital Classifieds, a joint venture with the German publisher. The digital assets were valued at around €1.25bn at the time.

Company
Axel Springer Digital Classifieds holds the parent company's digital assets. The company also holds SeLoger, a French real estate portal; Immonet, a German real estate portal; and StepStone, a European job portal.

People
Mathias Doepfner is CEO of Axel Springer. Bill Ford is CEO of General Atlantic.

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