Dusseldorf Portal operator Scout24 reports completion of the sale of its subsidiary Autoscout24. The private equity firm Hellman & Friedman paid 2.84 billion euros for the broker of new and used cars. The original price of just under 2.9 billion euros was adjusted to the provisionally determined net financial and current assets and adjusted slightly downwards.
From April 1st, the buyer now takes control of the former car division of the Munich M-Dax group. The former Scout24 subsidiaries Financescout24 and Finanzcheck also belong to Autoscout24. They help car buyers to finance the car purchase, for example.
In the future, Scout24 will concentrate on its digital real estate marketplace Immoscout24. When the transaction is completed, a capital repatriation program begins: Scout24 plans to pay off 780 million euros in debt, distribute 94.3 million euros in dividends and buy back shares with a value of up to 1.69 billion euros.
The company announced that the first tranche of 490 million will be launched at short notice.
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