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About Springer - Media - Press Releases | Springer ownership change confirmed

Berlin, 2 February 2010

Springer ownership change confirmed

Sale by Cinven and Candover to EQT and GIC final

The closing of the sale of Springer Science+Business Media S.A. (Springer) by Cinven and Candover to funds managed by EQT and GIC, announced on 11 December 2009, is confirmed. Competition authorities in the USA and in Europe have approved the transfer.
Springer has received an injection of new equity of around EUR 450m. Furthermore, a new financing package valued at EUR 1.2bn has been put together with Goldman Sachs International, Barclays Capital, Unicredit Bank AG and Deutsche Bank AG, who acted as Mandated Lead Arrangers and who have arranged the new credit facility and a EUR 454m mezzanine financing.
Derk Haank, Springer’s CEO, said: “We are very pleased to see that the transaction is now closed and we are looking forward to working with EQT and GIC to further develop our e-strategy. This transaction improves Springer’s financial flexibility as substantial new equity has been injected and the maturities of our debt extended. Most of all, we are delighted to be getting back to the matters that are most important to us, the publishing of great scientific books, journals and professional information.”
Springer Science+Business Media is a leading global scientific publisher, delivering quality content through innovative information products and services. The company is also a trusted provider of local-language professional publications in Europe, especially in Germany and the Netherlands. In the science, technology and medicine (STM) sector, the group publishes around 2,000 journals and more than 6,500 new books a year, and has the largest STM eBook Collection worldwide. Springer has operations in about 20 countries in Europe, the USA, and Asia, and has more than 5,000 employees. In 2008, it generated annual sales of around EUR 892 million.
Further information on EQT can be found at: http://www.eqt.se/
Further information on GIC can be found at http://www.gic.com.sg/
Eric Merkel-SobottaSpringer Science+Business Media
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