Axel Springer buys 25 pct stake in Turkey's Dogan
Axel Springer AG said it has signed an agreement to acquire a 25 pct stake in the Turkish broadcaster Dogan TV for 375 mln eur.
'The purchase price may be subject to adjustments until Dec 31, 2014, depending on the future value of Dogan TV,' Springer said in a statement.
The German publisher said two out of seven members of Dogan TV's board of directors will be nominated by Axel Springer under the terms of the deal.
The transaction is subject to customary conditions, including clearance by legal and regulatory authorities and completion of satisfactory due diligence by Axel Springer.
Dogan TV is one of the biggest television and broadcasting companies in Turkey, according to Springer.
