KKR, CPPIB Seek €1 Billion Debt to Buy Aviv From Axel Springer

Lenders are preparing a loan for about €1 billion ($1 billion) to fund the sale of Axel Springer SE’s real estate ads unit Aviv Group.

KKR Capital Markets and Deutsche Bank AG are leading the process, according to people familiar with the matter. It’s the latest part of a plan by KKR & Co., the Canada Pension Plan Investment Board and German billionaire Mathias Döpfner to split up media conglomerate Axel Springer.

The financing is being shown to a select group of investors, before shortly being launched for general syndication to a wider buyer base, added the ...