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DGAP-News: ?Scout24 AG: Takeover bid by Hellman & Friedman and Blackstone rejected by majority of shareholders - Scout24 continues growth strategy and confirms forecast for 2019

14.05.2019, 11:08:47 (www.4investors.de - in Kooperation mit DGAP - EQS Group):


DGAP-News: Scout24 AG / Key word(s): Offer

?Scout24 AG: Takeover bid by Hellman & Friedman and Blackstone rejected by majority of shareholders - Scout24 continues growth strategy and confirms forecast for 2019
14.05.2019 / 11:08


The issuer is solely responsible for the content of this announcement.
Scout24 AG: Takeover bid by Hellman & Friedman and Blackstone rejected by majority of shareholders - Scout24 continues growth strategy and confirms forecast for 2019
- Minimum acceptance threshold of 50 percent plus one share not met
- Forward-looking strategy, growth targets, and forecast for 2019 not affected by failed takeover bid

Munich / Berlin, 14 May 2019 - Pulver BidCo GmbH ("BidCo"), a holding company jointly controlled by funds advised by Hellman & Friedman LLC and affiliates of The Blackstone Group L.P., announced today that the voluntary public takeover bid for Scout24 shares issued failed to reach the acceptance threshold of 50 percent plus one share. The takeover bid was therefore not successful.
Tobias Hartmann, CEO of Scout24, says: "Although we had expressed support for the strategic partnership with Hellman & Friedman and Blackstone, we fully respect the decision of our shareholders and consider it a vote of confidence in Scout24's successful future and management. We will further focus on our growth strategy and continue to develop Scout24 as an independent company. In addition to our successful ImmobilienScout24 and AutoScout24 marketplaces, we are further expanding the Scout24 Consumer Services offering by brokering financing, insurance, and other additional services. Our goal, which we share with our business partners, is to map out our real estate and auto transactions as much as possible as a digital experience on our platforms."

The Chairman of the Supervisory Board, Dr. Hans-Holger Albrecht, comments on the outcome of the takeover bid: ""The majority of our shareholders have decided to continue to accompany our company on its growth path and not to accept the takeover offer. We respect this decision and view it as a mandate. Management and employees will now be focused to drive value creation for our shareholders. The Supervisory Board will hereby fully support the Management Board to pursue the defined growth strategy."

The failed takeover bid has no impact on the forecast for 2019. In March, Scout24 presented record figures for the financial year 2018 with consolidated revenue of 531.7 million euros (+12.5% compared to the previous year) and an ordinary operating EBITDA margin of 54.8%. Despite strong investments to spur growth, Scout24 proposed a dividend increase to 0.64 euros per share for 2018. Scout24 forecasts double-digit growth rates for revenue and earnings for the 2019 financial year. Specifically, management expects revenue growth between 15 and 17 percent and an ordinary operating EBITDA margin between 52 and 54 percent.

 

About Scout24

With our leading digital marketplaces ImmobilienScout24 in Germany and Austria and AutoScout24 across Europe we are creating a connected network for living and mobility. More than 1,500 employees empower our users to find their new home or their new car quickly and easily. Individual additional services, such as the brokerage of relocation services or construction and car financing, by Scout24 Consumer Services support this purpose. Scout24 AG is listed on the Frankfurt Stock Exchange (ISIN: DE000A12DM80, G24). For further information, please visit www.scout24.com, our Corporate Blog and Tech Blog or follow us on Twitter and LinkedIn.
 

Investor relations

Britta Schmidt
Vice President Investor Relations & Controlling
Tel.: +49 89 44456 3278
Email: ir@scout24.com
 

Media relations

Jan Flaskamp
Vice President Communications & Marketing
Tel.: +49 30 24301 0721
Email: mediarelations@scout24.com
 

Disclaimer:

This document was created by Scout24 AG ("the Company" together with its direct and indirect subsidiaries, "the Group") and constitutes neither an offer nor a solicitation to sell, issue, or advertise an offer to purchase or sign any securities of the Company, nor shall any part thereof nor the dissemination thereof form part of any contract or give rise to confidence in connection with any contract or investment decision, nor does it constitute a recommendation with respect to any securities of the Company or any present or future member of the Group.

We would like to point out that some of the information is based on statements made by third parties and that no liability of any kind is assumed for the information contained herein and/or its completeness. The Company, its officers, directors, employees, and other persons make no representations or warranties, expressly or implied, as to the accuracy and/or completeness of the information contained herein and disclaim all liability for any loss or damage arising directly or indirectly from the use of such information or any opinions derived therefrom.

The information contained in this release may be changed, revised, or updated at any time. Some representations contained in this document contain forward-looking statements that reflect the current expectations and plans of the Company or its senior management of the Company with respect to future events. Such forward-looking statements are inherently subject to risks, uncertainties, assumptions, and other factors that could cause actual results, including the Company's financial condition and profitability, to differ materially from results expressed or implied by such statements and may also be more negative than results expressed or implied by such statements. Statements contained in this document relating to past developments or activities should not be construed as an assurance that such developments or activities will continue or be continued in the future. The Company assumes no obligation whatsoever to update or correct any information (including forward-looking statements) contained in this press release, whether as a result of new information, future events, or otherwise. You should not place undue reliance on forward-looking statements and statements that hinge solely on data available at the date of this release.

This document is not an offer of securities for sale in the United States of America. Securities may not be offered or sold in the United States of America unless they are registered or there is an exemption from registration under the U.S. Securities Act of 1933, as amended. Neither this document nor copies thereof may be taken or introduced into the United States of America, its territories, or possessions, or distributed directly or indirectly in the United States of America, its territories, or possessions to U.S. persons.

 












14.05.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de

Language:
English
Company:
Scout24 AG

Bothestr. 11-15

81675 Munich


Germany
Phone:
+49 89 44456 - 0
Fax:
+49 89 44456 - 3000
E-mail:
ir@scout24.com
Internet:
www.scout24.com
ISIN:
DE000A12DM80
WKN:
A12DM8
Indices:
MDAX
Listed:
Regulated Market in Berlin, Frankfurt (Prime Standard); Regulated Unofficial Market in Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange; London
EQS News ID:
809429

 
End of News
DGAP News Service




809429  14.05.2019 





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