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Axel Springer lifts stake in digital classifieds JV for $548 mln
December 8, 2014 / 7:53 AM / 3 years ago

Axel Springer lifts stake in digital classifieds JV for $548 mln

FRANKFURT, Dec 8 (Reuters) - German publisher Axel Springer is lifting its stake in its digital classified ads joint venture to 85 percent by buying a 15 percent share in the company from private equity firm General Atlantic for 446 million euros ($548 million) in cash.

It will also have the option to purchase the remaining 15 percent of Axel Springer Digital Classifieds, either in exchange for new shares in Axel Springer or for another 446 million euros, Springer said on Monday.

$1 = 0.8143 euro Reporting by Maria Sheahan; Editing by Ludwig Burger

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