DGAP-Adhoc: Axel Springer AG secures majority stake in StepStone ASA, Oslo / Mandatory offer intended




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02.09.09

DGAP-Adhoc: Axel Springer AG secures majority stake in StepStone ASA, Oslo / Mandatory offer intended

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Axel Springer AG / Offer/Acquisition

02.09.2009

Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by
DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.

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Axel Springer AG secures majority stake in StepStone ASA, Oslo / Mandatory
offer intended

- Increase of participation of Axel Springer AG in StepStone ASA, Oslo,  from approx. 32.97 % to an aggregate amount of 52.27 %

- Intended mandatory offer to all remaining shareholders of StepStone ASA

Today, Axel Springer AG, Berlin, entered into agreements for acquisition of 24,879,998 shares in StepStone ASA, Oslo. The purchase price for this participation amounts to NOK 213,967,982.80 (EUR equivalent 24,629,408.09, based on NOK/EUR FX rate of 8.6875), with a price of NOK 8.60 per share (EUR equivalent 0.9899, based on NOK/EUR FX rate of 8.6875). Following the completion of this acquisition, the participation of Axel Springer AG in StepStone ASA will increase from approximately 32.97 % to 52.27 %. In addition, Axel Springer AG has purchased a right to receive 725,757 new shares in StepStone to be issued December 31, 2009.

Through completion of this acquisition Axel Springer AG passed the threshold of one third of the shares triggering a mandatory offer under Norwegian takeover law. Therefore, Axel Springer AG will make a mandatory unconditional cash offer to acquire the remaining outstanding shares of StepStone ASA at an offer price of NOK 8.60 per share (EUR equivalent 0.9899).

StepStone is an international provider of e-recruiting solutions engaging in the business areas 'Online' (jobmarkets) and 'Solutions' (talent-management-software). One substantial asset of StepStone ASA is its participation of 50.1 % in the JV StepStone Deutschland AG, in which Axel Springer AG already holds a share interest of 49.9 %.

Berlin, September 2, 2009

Axel Springer AG
Axel-Springer-Str. 65
10888 Berlin
Germany


Investor Relations contact:
Claudia Thomé
+49 (0)30 2591-77421
claudia.thome@axelspringer.de




02.09.2009 Financial News transmitted by DGAP

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Language: English
Company: Axel Springer AG
Axel-Springer-Straße 65
10888 Berlin
Deutschland
Phone: +49 (0)30 2591-77421
Fax: +49 (0)30 2591-77422
E-mail: ir@axelspringer.de
Internet: www.axelspringer.de
ISIN: DE0005501357, DE0005754238
WKN: 550135, 575423
Indices: SDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, München, Hannover, Düsseldorf, Hamburg, Stuttgart

End of News DGAP News-Service

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Investor contact: Claudia Thomé
Tel: +49 30 2591 77421