Forbes attracts Germany's Axel Springer and other bidders -report
Forbes Media has caught the attention of six different firms including Germany-based multimedia company Axel Springer, according to a report published by The Wall Street Journal (WSJ). Forbes is known for its business magazine and its ranking of the richest people in the world, wrote Reuters.
According to WSJ, other companies interested in Forbes include China-based investment firm Fosun International, Singapore-based investment group Spice Global, Singaporean private equity (PE) firm Oxley Group, Chinese investment management firm Whale Capital Group, and Forbes conferences president Jack Laschever, the report detailed.
In November, the Forbes family made an announcement about the sale of its media firm. Together with PE firm Elevation Partners, the family hopes to get $400 million to $500 million for the company, according to a source. Elevation Partners currently holds a 45% interest in Forbes, the report explained.
WSJ said the exact bids from the interested parties are not yet confirmed, Reuters reported.