GERMANY - Hellman & Friedman to off-load Springer shares
Hellman & Friedman has notified the management board of Axel Springer AG that it is considering a placement of approximately 10% of Axel Springer shares. A precondition for the placement will be a sufficiently attractive capital market environment. Springer CEO Mathias Döpfner has welcomed the move by Hellman & Friedman, since it is in accordance with the company's need to reflect its true value via its share price. The company has a current free float allocation of less than 16%.
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