New majority shareholder for Scout24 Group – Hellman & Friedman to take over 70 percent of shares
Deutsche Telekom to remain as minority shareholder with 30 percent Scout24 will stay focused on further growth
Munich, 21.11.2013 – Hellman & Friedman is to take over 70 percent of the Scout24 Group on the basis of a group value of 2 billion euro. Deutsche Telekom will retain a 30 percent stake in the Company. The transaction will come into effect when approved by the cartel authorities.
"This transaction clearly reflects the value and high growth potential of Scout24 Group", says Dr. Martin Enderle, CEO of Scout24 Group. "We have created a leading European online corporation and are delighted to start the next chapter of our success story together with Hellmann & Friedman. We are also delighted that Deutsche Telekom has underscored its interest in the further development of Scout24 Group by retaining a 30% share."
Patrick Healy, Deputy CEO of Hellman & Friedman LLC said: "We are thrilled to enter this unique partnership with Deutsche Telekom and Scout24. Deutsche Telekom showed real vision when it acquired the Scout24 Group in 2004. Over the past years, Scout24 has become one of the most respected online platforms in Europe. We see tremendous growth potential for the company, and look forward to continuing the Scout24 growth story over the years to come.”
Scout24 is one of Europe's leading groups of companies for online market places. The six marketplaces of the Scout24 Group - ImmobilienScout24, AutoScout24, FriendScout24, FinanceScout24, JobScout24 and TravelScout24 - are present in 22 countries. As a strong partner, Scout supports its customers in important decisions, in particular in the fields of housing, mobility, partnership and finance. Every month, around 14 million Internet users place their confidence in the services provided by the Scout24 Group, which is a part of the Deutsche Telekom Group. Further information is available at www.scout24.com.
About Hellman & Friedman:
Hellman & Friedman LLC is a leading private equity company with offices in San Francisco, New York and London. Since its foundation in 1984, Hellman & Friedman has received more than 25 billion dollars in capital, which it manages through its associated funds. The company focuses on large-scale investments in leading business segment models and is a partner to the management in selected areas such as the Internet, Digital Media, Software, Business & Marketing Services, Financial Services, Health, Energy, and Industry. H&F has invested more than 2.5 billion dollars in shares in companies involved in the digital media segment and the Internet, among them DoubleClick, Getty Images, Web Reservations, and Internet Brands. Further information on Hellman & Friedman is available at www.hf.com
About Deutsche Telekom:
With 140 million cell phone customers, 31 million fixed line connections and more than 17 million broadband connections, Deutsche Telekom is one of the world's leading integrated telecommunication corporations (as at 30 September 2013). The corporation provides products and services in the fields of fixed line networks, cell phone networks, Internet and IPTV for private customers and ICT solutions for large customers and corporate clients. Deutsche Telekom is active in around 50 countries and employs a global workforce of 230,000. The group achieved a turnover of 58.3 billion dollars during the 2012 business year, of which more than half was generated outside of Germany (as at 31 December 2012).
Press contact Scout24
Vice President Corporate Communications & PR
pp. Scout24 Holding GmbH
Dingolfinger Str. 1-15
Tel +49 89 44456 3136