Hengeler Mueller advises Axel Springer on possible transformation into KGaA
08. December 2014
The executive board and the supervisory board of Axel Springer SE have decided to explore a change of the legal form of Axel Springer SE to a partnership limited by shares (Kommanditgesellschaft auf Aktien – KGaA). The proposed change aims to provide Axel Springer with more flexibility in financing future growth. The legal form of a partnership limited by shares will provide the basis required to retain the commercial influence of Axel Springer Gesellschaft für Publizistik GmbH & Co., the majority shareholder of Axel Springer SE, also in connection with capital increases. The details regarding the structure of the partnership limited by shares are yet to be determined. A final decision on the change of legal form will be taken by the executive board and the supervisory board only after completion of the tax and legal assessments which are yet to be carried out.
Hengeler Mueller advises Axel Springer SE on the preparation of the transformation. The Hengeler Mueller team includes partners Andreas Austmann, Carsten Schapmann (both Corporate/Capital Markets, Düsseldorf), Stefanie Beinert (Tax, Frankfurt) and Vera Jungkind (Regulatory, Düsseldorf) as well as associates Thomas B. Paul, Daniel Moeritz, Moritz Hennemann and Peter Wehner (all Corporate/Capital Markets, Düsseldorf).