Hengeler Mueller advises Axel Springer SE on squeeze-out
16. October 2020
Axel Springer SE announced that a resolution on the squeeze-out request submitted by Traviata B.V. ("Traviata") is to be passed at Axel Springer SE's virtual annual general meeting scheduled for 26 November 2020. Following the takeover offer and the delisting, Traviata, a holding company owned by funds advised by KKR, has submitted a request to transfer the shares of the minority shareholders to it as principal shareholder against adequate cash compensation (so called squeeze-out under stock corporation law). Based on securities loans Traviata currently holds 99.1% of the shares in Axel Springer SE.
Hengeler Mueller advises Axel Springer SE on the squeeze-out. The team includes partners Andreas Austmann and Carsten Schapmann as well as associates Jesco Lindner and Anika Sonnenberg (all Corporate/M&A, Düsseldorf).