Scout24 this week welcomed the takeover offer from Hellman & Friedman and Blackstone. The voluntary public takeover offer has a price of 46 euros per share, in cash.
Scout24 is a leading operator of digital marketplaces specializing in real estate and automotive sectors in Germany and other European countries. Scout24 has more than 1,200 employees and is traded on the Frankfurt Stock Exchange.
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 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. The deal is expected to close in the second half of May.
“We believe this is an attractive offer with a substantial premium, high transaction certainty and a strategic value-add for the company. Hellman & Friedman and Blackstone are known to Scout24 as trusted and long-term partners given their prior ownership and familiarity with the company. The terms of the offer represent an attractive opportunity for a highly strategic partnership that recognizes the quality of the Scout24 platform, its employees, customers, and partners. I am delighted about our joint long-term vision and ambition to turn Scout24 into a leading European digital player,” said Hans-Holger Albrecht, Scout24 Chairman.