Scout24 AG to sell AutoScout24 for EUR 2.9bn

Acquisitions Feb 08, 2020
Scout24 AG to sell AutoScout24 for EUR 2.9bn

In a transaction worth 2.9 billion euros ($3.2 billion) German classifieds group Scout24 announced it has entered into a definitive agreement with affiliates of Hellman & Friedman LLC (“H&F”) for the sale of 100% of Scout24’s car classifieds platform AutoScout24.

The agreed transaction values AutoScout24 at approximately EUR 2.9bn, equivalent to a multiple of 26.1x on the ordinary operating EBITDA of the last twelve months as of September 2019. Both parties intend to complete the transaction in the first half of 2020.

AutoScout24 which currently operates in Germany, the Netherlands, Italy, Belgium and Austria and is ranked by Alexa as one of the most visited automotive digital marketplaces in the European Union.

According to the management board, the sale of AutoScout24 marks the completion of an extensive strategic review initiated in August 2019, where several options were comprehensively assessed with the help of external financial, legal and strategy consultants.

In a statement by Tobias Hartmann, CEO of Scout24, the transaction allows Scout24 to unlock substantial value for both Scout24 and its shareholders and to apply further focus on their home market-leading platform ImmoScout24.

Glen Smale

Editor @Bundupress - Covering Tech News, Startups, Funding, Social Marketing & Technology | DM me on twitter to share your story. Find me on - Instagram @glensmale - Pinterest @glensmale

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