KKR to take stake in German publisher Axel Springer

BERLIN (AP) — Global investment firm KKR is set to take a stake in Germany’s Axel Springer, the publisher of the mass-circulation Bild daily, in what is described as a strategic partnership.
Springer said Wednesday that a holding company owned by KKR-advised funds will launch a cash offer for Springer’s outstanding shares valuing the firm at some 6.8 billion euros ($7.7 billion).
It wasn’t immediately clear how large KKR’s stake will ultimately be. Friede Springer,