German billionaire Mathias Doepfner and private equity firm KKR reached a preliminary agreement this summer to divide the media conglomerate Axel Springer, according to a source familiar with the situation. The deal, which is expected to be discussed in detail at a supervisory board meeting next week, would grant KKR majority control over Axel Springer's lucrative classifieds business.

The Financial Times reported that the deal values Axel Springer at 13.5 billion euros ($14.95 billion), with over 10 billion euros attributed to the classifieds segment. Although the valuation is not yet final, it is expected to be close to these figures.

While the formal signing of the deal could take several months, an announcement from both parties might be made as early as next week. Axel Springer has declined to comment on the matter.

($1 = 0.9029 euros)

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