ETF News

Private equity consortium bids for Scout24

FRANKFURT, Feb 15 (Reuters) - German internet portal Scout24 said on Friday it will pursue a takeover offer by a consortium of finance investors Hellman & Friedman and Blackstone.

The consortium, called Pulver BidCo, would act as a holding company jointly controlled by funds advised by Hellmann & Friedman and affiliates of the Blackstone Group, it said in an adhoc statement.

Pulver BidCo was offering 46 euros per Scout24 share in cash to all shareholders.

The takeover offer will be subject to a minimum acceptance threshold of 50 percent plus one share.

Scout 24’s management board and supervisory boards were supporting the takeover offer and concluded an investment agreement, it said separately. The consortium offer was pegging Scout24’s value at 5.7 billion euros ($6.43 billion). ($1 = 0.8858 euros) (Reporting by Vera Eckert, editing by Riham Alkousaa)