Axel Springer and KKR near deal on $13.5 billion break-up, FT reports

German billionaire Mathias Doepfner and KKR are nearing a deal to split up the media giant Axel Springer, the Financial Times reported on Saturday, citing four people familiar with the matter.

The two sides are expected to discuss the proposed structure of a deal that would give KKR majority control of the company’s profitable classifieds business at a meeting of its supervisory board on Thursday, the Financial Times reported.

The deal values the whole company at 13.5 billion euros ($14.95 billion), including more than 10 billion for the classifieds business, according to the sources.