Hellman & Friedman and Blackstone fail to takeover Scout24

May 15, 2019

Hellman & Friedmand and Blackstone, two private equity firms, have failed to snatch the takeover bid for German-based Scout24. They did not secure the required support of 50 percent of shares, they announced in a recent update on the subject.

The offer from private equity firm Hellman & Friedman, in partnership with Blackstone, had valued the Munich-based company at 5.7 billion euros ($6.4 billion) including debt. It was pitched at 46 euros per share.

Best known for its ImmobilienScout24 home listings in Germany and AutoScout24 car listings across Europe, the company was previously owned by Hellman & Friedman, which acquired a controlling stake from Deutsche Telekom in 2013 before listing the business in 2015.

The bidders said they had received acceptances for only around 42.8% of Scout24 shares. The minimum threshold was therefore not reached, they added.

Scout24 CEO Tobias Hartmann said that although he was in favor of the strategic partnership with Hellman & Friedman and Blackstone, he respected the shareholders’ decision, calling it “a vote of confidence in the company’s future and management”.

Read more here

Join us in Miami Beach, June 5-7 for the Global Online Marketplaces Summit.

Miabannermay12

May 15, 2019

Subscribe to our mailing list to get the famous, free Friday newsletter!

News and analysis to help build better online marketplace businesses, in your inbox, every Friday

Related News

Cooperrocketacq
Rocket to Acquire Mr Cooper Mortgage Service for $9.4 Billion

Rocket Companies has announced a $9.4 billion all-share deal to acquire Mr. Cooper, the largest mortgage servicer in the United...

Read More
Scout24 German Houses 1
Scout24 Closes Another Data-Focused Acquisition

Germany-based marketplace operator Scout24 has continued its expansion into real estate data with the acquisition of Austrian proptech firm ImmoUnited....

Read More
People Roundup 28Mar 2
People Roundup: Aviv Group, Pisos.com, Kleinanzeigen, REA India, Anjuke

There have been several high profile C-suite moves in this week's People Roundup. We'll start in Europe...   Europe: Aviv...

Read More
Product Update 2025Mar28 3
Product and Services Roundup: Zoopla, ViewIt

This week's Product Roundup starts in the UK, where it's all about Zoopla...   UK: Zoopla's MyHome product is used...

Read More

Editor's Pick