KKR and CPPIB to acquire a majority stake in classified advertising business of Axel Springer.

KKR and CPPIB, a global investment firms, agreed to acquire a majority stake in classified advertising business of Axel Springer, a German digital publishing house. Financial terms were not disclosed. “We are proud to have partnered with Friede and Mathias since 2019 in pursuit of Axel Springer’s vision to become a leading global provider of digital content and classifieds. We have jointly reached this goal by acquiring industry leaders such as POLITICO to expand across geographies and segments, transforming the group’s operations, and attracting market leading talent. We are excited to continue the partnership as we further grow the classifieds businesses, working with the talented teams at Stepstone, AVIV, finanzen.net and Awin in our shared pursuit of future value creation,” Philipp Freise, KKR Partner and Co-Head of European Private Equity.