A Gleiss Lutz team has advised the supervisory board of Scout24 AG on the auctioned sale of AutoScout24 and Finanzcheck to Hellman & Friedman. Several bidders took part in the process, including other private equity investors. The purchase price is EUR 2.892 billion. Closing of the transaction is still subject to the customary regulatory clearances.
Scout24 AG, a leading operator of digital marketplaces for real estate and automobiles in Germany and other selected European countries, sold its second-largest division, the AutoScout 24 portal, to the financial investor Hellman & Friedman by way of the auction. Hellman & Friedman also acquired the subsidiary Finanzcheck, a comparison portal for consumer loans.
Gleiss Lutz already advised the supervisory board of Scout24 in the spring of 2019 on a public takeover bid and the planned strategic partnership with Hellman & Friedman and Blackstone, which the shareholders rejected, however.
Scout24's supervisory board was advised by the following Gleiss Lutz team: Martin Hitzer (partner, lead), Dr. Matthias Gärtner (counsel), Dr. Hilmar Hütten, Dr. Simon Frye (all corporate), Dr. Julia Herzberg (employment, all Düsseldorf).