Axel Springer AG and P7S1 Holding L.P. Mutually Agree to Terminate Axel Springer‘s Plans for a Takeover of ProSiebenSat.1 Media AG




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01.02.06

Axel Springer AG and P7S1 Holding L.P. Mutually Agree to Terminate Axel Springer‘s Plans for a Takeover of ProSiebenSat.1 Media AG

To press release overview

The management board of Axel Springer AG and P7S1 Holding L.P., the investor group lead by Saban Capital Group, Inc. announced today that they have mutually agreed to terminate plans for Axel Springer AG to acquire ProSiebenSat.1 Media AG.

On January 23, 2006, the Federal Cartel Office prohibited the intended acquisition of ProSiebenSat.1 Media AG. Thereafter, Axel Springer AG announced it would analyze possibilities for an appeal and other available options.

After an extensive analysis and careful consideration, Axel Springer AG and P7S1 Holding L.P. came to the conclusion that in light of the numerous economic and legal uncertainties a possible appeal or a possible application for a ministerial permit would have resulted in unacceptable risks for all parties involved. As a consequence, neither the share purchase agreement between Axel Springer AG and P7S1 Holding L.P. dated August 5, 2005 nor the voluntary public takeover offer made to the shareholders of ProSiebenSat.1 Media AG by Axel Springer AG on September 16, 2005 will be consummated.

Press Contact Axel Springer SE: Edda Fels
Tel: +49 30 2591 77600