Axel Springer Said to Work With Banks on Digital Unit IPO
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Axel Springer SE, Europe’s biggest newspaper publisher, is working with JPMorgan Chase & Co. and Citigroup Inc. on an initial public offering of its digital-classifieds business, people familiar with the matter said.
Axel Springer Digital Classifieds, partly owned by private-equity firm General Atlantic LLC, could be valued at about 3 billion euros ($4.1 billion) in a share sale that could take place as early as the second half, two of the people said, asking not to be named as the details aren’t public yet.