DGAP-Adhoc: Axel Springer and Ringier AG combine activities in eastern Europe




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23.03.10

DGAP-Adhoc: Axel Springer and Ringier AG combine activities in eastern Europe

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Axel Springer AG / Joint Venture

23.03.2010 23:33

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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Ad-hoc-Announcement pursuant to Section 15 WpHG

Axel Springer and Ringier AG combine activities in eastern Europe

Axel Springer AG, Berlin and Ringier AG, Zurich are combining their foreign business activities in eastern Europe and executed an agreement today to form a joint venture based in Zurich. Axel Springer will contribute its subsidiaries in Poland, the Czech Republic and Hungary to the joint venture, and Ringier will contribute its activities in Serbia, Slovakia, the Czech Republic and Hungary. In addition, Axel Springer will make a cash contribution in an amount of EUR 50 million to the joint venture as well as a compensation payment to Ringier in an amount of EUR 125 million. Each party will hold a 50% stake in the joint venture, which will take the legal form of a Swiss corporation. Pursuant to the agreements underlying the transaction, the joint venture with revenues of EUR 414 million and an EBITDA of approximately EUR 62 million on a pro forma 2009 basis will be fully consolidated in the consolidated financial statements of Axel Springer in accordance with the accounting principles of IFRS/IAS.

The transaction is subject to approval of the competent antitrust and media authorities.

Axel Springer AG
Axel-Springer-Straße 65
D-10888 Berlin



Investor Relations contact:
Daniel Fard-Yazdani
Tel.: +49 (030) 2591-77425
daniel.fard-yazdani@axelspringer.de




23.03.2010 23:33 Ad hoc announcement, Financial News and Media Release distributed by DGAP. Medienarchiv at www.dgap-medientreff.de and www.dgap.de

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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