Scout24, a publicly listed classified ads company that specialises in automotive and real estate sectors, has agreed to a takeover bid by Hellman & Friedman and Blackstone Group LP. The buyers have offered €4.9 billion for the company's equity at €46 per share, which is 11 percent higher than the closing price on the day before the statement was issued.
The German company is mostly known by its real estate classified ads platform ImmobilienScout24 and the automotive one, AutoScout24. It's headquartered in Munich and employs more than 1,200 people.
“Hellman & Friedman and Blackstone are known to Scout24 as trusted and long-term partners given their prior ownership and familiarity with the company,” said Tobias Hartmann, CEO of Scout24. “The terms of the offer represent an attractive opportunity for a highly strategic partnership that recognises 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.”