Scout24 AG: Management Board and Supervisory Board of Scout24 AG recommend accepting takeover offer of Pulver BidCo GmbH

Scout24 AG: Management Board and Supervisory Board of Scout24 AG recommend accepting takeover offer of Pulver BidCo GmbH 

- Joint reasoned statement of Management Board and Supervisory Board published
- Consideration of EUR 46.00 per Scout24 share is adequate
- Management Board and Supervisory Board consider in particular the bidder's intention to form a strategic partnership to be positive
 

Munich / Berlin, 10 April 2019 - The Management Board and the Supervisory Board of Scout24 AG ("Scout24"), a leading operator of digital marketplaces specializing in the real estate and automotive sectors in Germany and other selected European countries, today published a joint reasoned statement (gemeinsame begründete Stellungnahme) pursuant to section 27 of the German Securities Acquisition and Takeover Act (Wertpapiererwerbs- und Übernahmegesetz) relating to the voluntary public takeover offer launched on 28 March 2019 by Pulver BidCo GmbH, a holding company jointly controlled by funds advised by Hellman & Friedman LLC and affiliates of The Blackstone Group L.P.

After careful examination of the takeover offer, the Management Board and the Supervisory Board of Scout24 believe that the takeover offer is in the best interest of the company. On this basis, the Management Board and the Supervisory Board recommend that the Scout24 shareholders accept the takeover offer. All members of the Management Board and the Supervisory Board who hold Scout24 shares will accept the takeover offer for all shares held by them.

In the joint reasoned statement, the Management Board and the Supervisory Board state that the two boards, having performed their respective own examination independently of one another, believe that the cash consideration of EUR 46.00 per Scout24 share is adequate: The consideration appropriately reflects the value of Scout24 at the present time - i.e. also taking into account the current overall regulatory, geopolitical and macro-economic situation.

In addition, the Management Board and the Supervisory Board consider the intentions expressed by Pulver BidCo GmbH concerning the future business operations of Scout24 and in particular the intention to form a strategic partnership to be positive.

The joint reasoned statement has been published, together with a non-binding English translation, on the internet under the heading "Investor Relations" | "Takeover Bid" on the website of the Company at www.scout24.com. Copies can also be obtained free of charge at Scout24 AG, Bothestr. 11-15, 81675 Munich, Germany, telephone +49 89 444 56 3278, fax +49 89 444 56 19 3278 (order per e-mail to [email protected], stating full postal address).

The publication and keeping available of copies free of charge will be announced in the Federal Gazette (Bundesanzeiger) on 11 April 2019.


About Scout24
With our leading digital marketplaces ImmobilienScout24 in Germany and AutoScout24 across Europe we are inspiring people to make their best decisions on finding a home and a car. Additional services, such as credit information, the brokerage of relocation services or construction and car financing, are bundled in the Scout24 Consumer Services business division. More than 1,200 employees are working on the success of our products and services, putting the consumers' needs first in order to create a connected network for living and mobility. Scout24 is listed on the Frankfurt Stock Exchange (ISIN: DE000A12DM80, G24). For further information, please visit www.scout24.com, our Corporate Blog and Tech Blogor follow us on Twitter and LinkedIn.
 

Investor relations
Britta Schmidt
Vice President Investor Relations & Controlling
Tel.: +49 89 44456 3278
Email: [email protected]
 

Media relations
Jan Flaskamp
Vice President Communications & Marketing
Tel.: +49 30 24301 0721
Email: [email protected]
 

Disclaimer:
All information contained in this document has been carefully prepared. However, no reliance may be placed for any purposes whatsoever on the information contained in this document or on its completeness. No representation or warranty, express or implied, is given by or on behalf of the Company or any of its directors, officers or employees or any other person as to the accuracy or completeness of the information or opinions contained in this document and no liability whatsoever is accepted by the Company or any of its directors, officers or employees nor any other person for any loss howsoever arising, directly or indirectly, from any use of such information or opinions or otherwise arising in connection therewith.

The information contained in this release is subject to amendment, revision and updating. Certain statements, beliefs and opinions in this document are forward-looking, which reflect the Company's or, as appropriate, senior management's current expectations and projections about future events. By their nature, forward-looking statements involve a number of risks, uncertainties and assumptions that could cause actual results or events to differ materially from those expressed or implied by the forward-looking statements. These risks, uncertainties and assumptions could adversely affect the outcome and financial effects of the plans and events described herein. Statements contained in this document regarding past trends or activities should not be taken as a representation that such trends or activities will continue in the future. The Company does not undertake any obligation to update or revise any information contained in this press release (including forward-looking statements), whether as a result of new information, future events or otherwise. You should not place undue reliance on forward-looking statements, which speak only as of the date of this document.