Springer Ownership Changes Hands

Feb 05, 2010

Springer Science+Business Media announced a change of ownership, having been sold to funds managed by EQT V, a European private equity fund, and GIC Special Investments, the private equity arm of the Government of Singapore Investment Corporation (GIC) by previous owners Cinven and Candover. The sale has been approved by agencies in both the Untied States and Europe.

As part of the sale, Springer will receive an additional 450 million euros (roughly 630 million dollars) in equity funding, as well as a 1.2 billion euro financing package through Goldman Sachs International and several other firms. Springer announced that the sale would give it additional financial flexibility, allowing them to continue developing its digital strategies.