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DGAP-News: ?Scout24 welcomes the takeover offer and the strategic partnership with Hellman & Friedman and Blackstone

DGAP-News: Scout24 AG / Key word(s): Offer


Scout24 welcomes the takeover offer and the strategic partnership with Hellman & Friedman and Blackstone (news with additional features)


15.02.2019 / 08:05



The issuer is solely responsible for the content of this announcement.


Scout24 welcomes the takeover offer and the strategic partnership with Hellman & Friedman and Blackstone


- Voluntary public takeover offer with a price of EUR 46 per Scout24 share in cash

- Management Board and Supervisory Board welcome the offer

- Investment agreement regarding strategic partnership signed


Berlin / Munich, 15 February 2019 - Today, Scout24 AG ("Scout24"), a leading operator of digital marketplaces specialising in real estate and automotive sectors in Germany and other selected European countries, and Pulver BidCo GmbH ("BidCo"), a holding company jointly controlled by funds advised by Hellman & Friedman LLC and affiliates of The Blackstone Group L.P., have signed an investment agreement forming a strategic partnership. BidCo has announced to pursue a voluntary public takeover offer for all Scout24 shares with a price of EUR 46.00 per Scout24 share in cash ("Takeover Offer").

The Takeover Offer implies an equity value of Scout24 of approximately EUR 4.9 billion and an enterprise value of approximately EUR 5.7 billion. The offer price represents:

ca. 27.4% premium to the unaffected share price of EUR 36.1 on December 13, 2018

ca. 24.4% premium to the unaffected 3-month-volume-weighted average share price of EUR 37.0

The Takeover Offer will be subject to a minimum acceptance threshold of 50% plus one share. Furthermore, the Takeover Offer will be subject to a market MAC (no decline of the Dax 30 by more than 27.5%) and other customary conditions, in particular merger control clearance.
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