Blackstone to pay €5.5bn online RE classifieds specialist Scout24

Blackstone to pay €5.5bn online RE classifieds specialist Scout24

Published at: 2019-02-20 10:53 | Author: CIJEurope.com
German digital marketplace operator Scout24 has accepted an improved take-over offer of €5.5bn from Blackstone and Hellman & Friedman. The two private equity firms upped a previous bid of €43.50 per share to €46 per share. Sout24 has seen enormous growth during Germany’s real estate boom in recent years and Reuters is calling it the largest ever takeover of a listed Germany company by a private equity firm. Scout24 provides online real estate and automobile classified ads. Shareholders turned down the initial bid, believing that its biggest competitors, which includes Axel Springer SE and Ebay Inc, could be willing to pay more. The classified ads portion of the media sector is proving to be the most profitable part of numerous media houses at the moment, making a stand-alone offering such as Scout24 particularly valuable.

Similar Stories:

Kovanda: Flats in Prague could double in price by 2030
Prague is missing 20,000 flats, writes the economist Lukáš Kovanda, and with 160,000 new  »
Apartment sales start at Jagodno project in Wrocław
Robyg has laid the foundation stone at the Jagodno scheme, going up between Buforowa and K  »
Erbud to start construction on Port Popowice in Wrocław
Erbud is planning to start construction on 144 apartments that will be part of the Port Po  »
Housing prices in Hungary’s Balaton average €3,200 per sqm
Housing prices in Hungary’s Balaton region are on the rise. Apartments along Lake Balato  »
Investors from China, Russia and other countries are leading a growing influx of foreign f   »
Czech Republic  ♦  Round Hill plots European growth
The buildings are located in Helsinki and in regional towns near the south of the country.   »
The 340 apartments, built in a total of nine buildings, have long since sold out as Slovak   »
Emotions are running high on the Romanian residential market where demand is outstripping   »