DT sells 70% stake in Scout24
Deutsche Telekom will retain a 30 percent stake in the company. The transaction, expected to close in the first quarter of 2014, will generate cash proceeds at closing of approximately 1.5 billion euros. The transaction is subject to authority approvals and other customary closing conditions.
The partial sale of Scout24 is a cornerstone transaction for the online investment strategy pursued by Deutsche Telekom over the past decade. Under Deutsche Telekom's ownership, Scout24 successfully Germany's leading online classifieds business including the core ImmobilienScout24 and AutoScout24 franchises.
Deutsche Telekom will benefit from a meaningful participation in the future value creation of Scout24. In partnering with H & F, Scout24 will benefit from the deep experience of one of the most successful investors in Digital Media, enabling it to continue its track record of growth and innovation. ■