Takeover bid and strategic partnership of Scout24 with Hellmann & Friedman and Blackstone: Gleiss Lutz advises supervisory board of Scout 24
Gleiss Lutz advised the supervisory board of Scout24 in connection with the investment agreement on a strategic partnership with Hellmann & Friedman and Blackstone.
Today, Scout24 AG, a leading operator of digital marketplaces specializing in the real estate and automotive sectors in Germany and other selected European countries, and Pulver BidCo GmbH, a holding company that is jointly controlled by funds, which in turn are advised by Hellman & Friedman LLC as well as group companies of Blackstone Group L.P., signed an investment agreement on a strategic partnership. BidCo has announced its intention to submit a voluntary public takeover bid for all of Scout24’s shares at an offering price of EUR 46.00 in cash per Scout24 share. This bid values Scout24’s equity at approximately 4.9 billion euro and the undertaking as a whole at approximately 5.7 billion euro. The transaction is subject to the customary regulatory approvals.
The following Gleiss Lutz team of lawyers led by Martin Hitzer (partner, Corporate/M&A, Düsseldorf) advised the supervisory board of Scout24: Dr. Christian Cascante (partner, Corporate/M&A, Frankfurt), Dr. Matthias Gärtner, Nils Maiwurm, Dr. Simon Frye, Dr. Hilmar Hütten, Dr. Joscha Meyer, Katharina Bein, Lukas Neuhaus (Corporate/M&A), Dr. Andreas von Medem (counsel, Employment, all Düsseldorf), Dr. Helge Kortz (partner), Dr. Thomas Kulzer (counsel, both Finance, Frankfurt), Dr. Christian Hamann (partner), Simon Clemens Wegmann (both Data protection, Berlin).