ProSiebenSat.1 has acquired a majority stake (50% + one share) in the PARSHIP ELITE Group, an online dating service provider with its head office in Hamburg.
The company, with its two brands PARSHIP and ElitePartner, is the leading online dating service in the German-speaking world, and for ProSiebenSat.1 the acquisition is a relatively big move as it seeks to expand its digital business.
ProSiebenSat.1 purchase the majority stake for €100 million, but will also replace existing PARSHIP ELITE Group loans in the amount of €100 million by providing preferred capital bearing a fixed rate of interest. The transaction is based on a company value of €300 million in total.
The previous owners, Oakley Capital Private Equity II and the existing management, will continue to hold minority interests totalling just under 50% of the company.