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General Atlantic Takes Axel Springer Stake

German publisher Axel Springer said on Tuesday it had signed a deal with General Atlantic which will see the U.S. private equity firm take a 30% stake in its online classified advertizing business, Reuters reported. General Atlantic will pay Springer 237 million euros ($313.6 million), and provide a 460 million euro loan.

(Reuters) – German publisher Axel Springer AG said on Tuesday it had signed a deal with General Atlantic which will see the U.S. private equity firm take a 30 percent stake in its online classified adverts business.

 

As part of the deal, which will create a new offshoot called Axel Springer Digital Classifieds GmbH, General Atlantic will pay Springer 237 million euros ($313.6 million) and give it a 460 million euro loan.