KKR offers 63 euros per share to buy out Axel Springer minorities

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KKR offers 63 euros per share to buy out Axel Springer minorities

FILE PHOTO: CEO of German publisher Axel Springer SE Mathias Doepfner holds a speech during the annual news conference in Berlin, Germany, March 8, 2018. REUTERS/Hannibal Hanschke/File Photo

FRANKFURT (Reuters) – Funds controlled by U.S. private equity investor KKR on Wednesday offered 63 euros a share to buy out minority shareholders in Axel Springer in a deal agreed with the German publisher’s main shareholders.

The takeover offer will be subject to reaching a minimum acceptance threshold of 20% of Springer’s share capital, the bid vehicle acting on behalf of KKR said in a statement.

Reporting by Douglas Busvine; Editing by Thomas Seythal