Axel Springer is granted clearance to acquire Logic-Immo
The deal would value Concept Multimédia at EUR 105 million (cash/debt free). Final closing requirements are expected to be fulfilled for a definitive closing of the transaction at the beginning of February.
Concept Multimédia is based in Aix-en-Provence and Paris and runs the real estate portal Logic-Immo.com, as well as dedicated online portals for luxury real estate and new buildings and a number of print publications with real estate ads in France. Logic-Immo.com reaches 3.0 million people per month (source: Médiamétrie, unique visitors, October 2017). With SeLoger, Axel Springer already has a leading real estate classifieds site in France, reaching 5.5 million people per month (source: Médiamétrie, unique visitors, October 2017).
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Through the acquisition of Concept Multimédia, Axel Springer Digital Classifieds France will further differentiate its range of real estate portals and will be excellently positioned for further growth in the competitive French real estate classifieds market.
Dr. Andreas Wiele, President Classifieds and Marketing Media Axel Springer, says “Thanks to the combination of SeLoger and Logic-Immo, millions of French consumers will have easier access to the home of their dreams. And Axel Springer further strengthens its position in the prospering French digital economy.”
Bertrand Gstalder, CEO SeLoger and CEO Axel Springer Digital Classifieds France, says “By combining audiences and undisputed know-how of SeLoger and Logic-Immo, we are providing real estate agents with the most efficient and innovative service in the French market.”
Patrice Hutin, CEO Spir Communication, says “I am very happy having received clearance by the French Competition Authority for the transaction, which will secure a great future for Logic-Immo and its employees alongside the best possible partner.”
Cyril Janin, General Manager Concept Multimédia, added “With Axel Springer and SeLoger we will have the opportunity to accelerate the development of Logic-Immo. We look forward to collaborating with our new colleagues from SeLoger and to being part of the large Axel Springer family.”
Axel Springer is a member of FIPP.
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