Axel Springer and KKR finalize division of media group

(Reuters) – Axel Springer and U.S. investment firm KKR have finalized the division of the media group, Springer said on Tuesday.

Chief Executive Matthias Doepfner and the Springer family will retain control of the media operations, including German tabloid Bild and Politico.

KKR and its partner, Canadian pension fund CPP Investments, will hold the majority of the classified advertising business, including jobs portal Stepstone and property portal Aviv. Axel Springer will hold onto a 10% stake in the business.

(Reporting by Klaus Lauer; Writing by Bernadette Hogg, editing by Kirsti Knolle)