AccessMyLibrary provides FREE access to over 30 million articles from top publications available through your library.
Create a link to this page
Copy and paste this link tag into your Web page or blog:
Deutsche puts Springer stake on the block.
(From Financial News (Daily))
Deutsche Bank has taken the unusual step of selling off its huge '800m ($790m) stake in Axel Springer, the German publisher, through a live auction.The bank has advertised in the German financial press for potential buyers to attend the auction at a hotel in Frankfurt on October 8.
A spokesman for the bank admitted that the tactic was "not typical". He said Deutsche had chosen an auction because "it is a very clear, totally transparent procedure". Companies auctioning off businesses or stakes usually do so over a period of weeks in a process managed by their financial advisers.
Deutsche has had a difficult time disposing of the 40% Springer stake, which it picked up because collapsed media company Kirch had committed it as collateral ...
- Deutsche Bank poised to nab Kirch's Springer stake. (Business).(Brief Article)
- Magazine article from: Daily Variety Meza, Ed May 8, 2002 700+ words
BERLIN -- Deutsche Bank looks increasingly likely...and time is running out. The Springer stake is collateral for Deutsche Bank's $660 million Kirch...stake will automatically go to Deutsche Bank. Kirch needs the proceeds...
- Germany - Deutsche Bank to buy Kirch's Springer stake.
- News wire article from: Europe Intelligence Wire October 9, 2002 700+ words
...collapsed media company, has seen Deutsche Bank (Germany) emerge as...Germany), publisher. Deutsche Bank will pay Euro667.3...float on the stock market. Deutsche Bank was holding the stake...competitive auction. Part of the Springer stake is expected to be sold to...
- Deutsche Bank buys Kirch's Axel Springer stake.
- News wire article from: Europe Intelligence Wire August 10, 2002 700+ words
(From FT Investor (Pulses)) Deutsche Bank on Tuesday bought the bankrupt media...for [euro]667.3m ($655m). Deutsche described the widely-expected move...thought to be the leading candidate to buy Deutsche's stake. Deutsche acquired the 13...
- Deutsche Bank to auction Springer stake.
- News wire article from: Europe Intelligence Wire October 2, 2002 700+ words
(From Financial News (Daily)) Deutsche Bank will put a 40% stake in Axel Springer up for sale next...the stake at 11am next Tuesday in Frankfurt's Hilton Hotel. Deutsche Bank became entitled to sell the shares two weeks ago after...
- City briefing: Deutsche takes Springer stake.
- News wire article from: Europe Intelligence Wire October 9, 2002 700+ words
(From The Guardian) Deutsche Bank yesterday paved the way for a new chapter in the history of...Springer to outside investors if the stake is sold on the market. Deutsche had the right to sell the shares as collateral on a euros 720m loan...
- Bidders enter ring for bank's Springer stake.
- News wire article from: Europe Intelligence Wire October 6, 2002 700+ words
...market to get a higher price. Deutsche Bank has given Kirch until...filing would not only eliminate Deutsche Bank's right to sell the...that if he could not sell the Springer stake himself, it could result...wrangling over the stake makes Deutsche Bank favourite at the auction...
- Kirch TV silent on future of Axel Springer stake.
- Newspaper article from: The Daily Deal June 10, 2002 700+ words
...of the stake until August. Deutsche Bank AG wants the stake as...Kirch won't challenge Deutsche's right to the stake after...ruling made no difference since Deutsche Bank was not going to bid...with a secondary lien on the Springer stake as collateral for their financing...
- DB finally gains Springer stake.
- Newspaper article from: The Daily Deal October 9, 2002 700+ words
Byline: Jonathan Braude Deutsche Bank AG on Tuesday, Oct. 8, took...bid requirement under German law and Deutsche would have had to make an offer for...remainder of the Springer shares. But Deutsche issued a statement after the auction...
- DB to sell Axel Springer stake.
- Newspaper article from: The Daily Deal October 2, 2002 700+ words
...Springer Verlag AG to reach a deal, Deutsche Bank AG said Tuesday, Oct. 1, it plans...would fetch less in current conditions. Deutsche Bank acquired the stake in September...then use the proceeds to buy the 40% Deutsche Bank now holds. In an advertisement...
- Kirch gives go-ahead for auction of Springer stake (Springer-Aktien werden...
- News wire article from: Europe Intelligence Wire October 8, 2002 700+ words
...now be auctioned off. Mr Kirch has given the go-ahead to Deutsche Bank, Germany's largest bank, for the auction go to ahead...lien on the share package, may bid for it in the auction. If Deutsche Bank acquires the share package, thus becoming its owner as...