KKR & Co Ltd.
Acceptance rate of the voluntary public tender offer for Axel Springer SE above the minimum acceptance threshold

Acceptance rate of the voluntary public tender offer for Axel Springer SE above the minimum acceptance threshold

5 August 2019 – Traviata II S.à r.l., a holding company owned by funds advised by KKR, today announced that the 20 percent minimum acceptance threshold of the voluntary public tender offer for the shares (ISIN: DE0005501357, DE0005754238) of Axel Springer SE (“Axel Springer”) has been exceeded at the expiry of the acceptance period at midnight (CEST) on 2 August 2019.

The result of the voluntary public tender offer at the expiry of the acceptance period is expected to be published on 7 August 2019.

Additional information is available at www.traviata-angebot.de/en.

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KKR media contact Germany

Axel Springer SE media contact

About KKR

KKR is a leading global investment firm that manages multiple alternative asset classes, including private equity, energy, infrastructure, real estate and credit, with strategic partners that manage hedge funds. KKR aims to generate attractive investment returns for its fund investors by following a patient and disciplined investment approach, employing world-class people, and driving growth and value creation with KKR portfolio companies. KKR invests its own capital alongside the capital it manages for fund investors and provides financing solutions and investment opportunities through its capital markets business. References to KKR’s investments may include the activities of its sponsored funds. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.

About Axel Springer

Axel Springer is a media and technology company and active in more than 40 countries. By providing information across its diverse media brands (among others BILD, WELT, BUSINESS INSIDER, POLITICO Europe) and classifieds portals (StepStone Group and AVIV Group) Axel Springer SE empowers people to make free decisions for their lives. Today, the transformation from a traditional print media company to Europe’s leading digital publisher has been successfully accomplished. The next goal has been identified: Axel Springer wants to become global market leader in digital content and digital classifieds through accelerated growth. The company is headquartered in Berlin and employs more than 16,300 people worldwide. In the fiscal year 2018, Axel Springer generated 71 percent of revenues with its digital activities which also contributed 84 percent to earnings (adj. EBITDA).

Disclaimer and forward looking statements

This announcement is neither an offer to purchase nor a solicitation of an offer to sell shares in Axel Springer SE. The terms and conditions of the public tender offer, as well as further provisions concerning the public tender offer are published in the offer document, the publication of which has been approved by the German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht – BaFin) to. Investors and holders of shares in Axel Springer SE are strongly advised to read the offer document and all other documents regarding the public tender offer when they become available, as they will contain important information.
The public tender offer has been published exclusively under the laws of the Federal Republic of Germany and certain applicable provisions of U.S. takeover laws. The public tender offer documentation as well as further documents regarding the public tender offer are available at www.traviata-angebot.de. Any contract concluded on the basis of the public tender offer will be exclusively governed by the laws of the Federal Republic of Germany and is to be interpreted in accordance with such laws.
To the extent permissible under applicable law or regulation, and in accordance with German market practice, Traviata II S.à r.l., its affiliates or its brokers may purchase, or conclude agreements to purchase, shares in Axel Springer SE, directly or indirectly, outside of the scope of the public tender offer, before, during or after the period in which the offer remains open for acceptance. This applies to other securities which are directly convertible into, exchangeable for, or exercisable for shares in Axel Springer SE. These purchases may be completed via the stock exchange at market prices or outside the stock exchange at negotiated conditions. If such purchases or arrangements to purchase are made they will be made outside the United States and will comply with applicable law, including the US Securities Exchange Act of 1934. Any information on such purchases will be disclosed as required by law or regulation in Germany or any other relevant jurisdiction and on http://www.traviata-angebot.de.
This announcement may contain certain forward-looking statements and forecasts which relate to events and depend on circumstances that will occur in the future. The terms “intend”, “can”, “may”, “will”, “would” or, in each case, their negative, or other variations or comparable terminology are used to identify forward-looking statements. Forward-looking statements are subject to many risks, uncertainties and other variable circumstances which may cause the statements to be inaccurate or materially differ from the actual result, and readers are cautioned not to place undue reliance on such statements. The forward-looking statements included in this announcement are made only as of the date hereof. We retain the right to revise any such statement and do not undertake, and specifically decline, any obligation to update any such statements or to publicly announce the results of any revisions to any of such statements to reflect future events or developments.