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Axel Springer and Purplebricks jointly acquire an interest in Homeday

Homeday ()

Axel Springer and Purplebricks will set up a joint holding company, that will acquire around 22 per cent of Homeday via the purchase of existing shares and a capital increase. In addition, Axel Springer’s existing stake of four per cent will be transferred to the holding company. Axel Springer and Purplebricks will each hold a 50 per cent stake in the joint holding company.

In the course of the investment, Dr. Andreas Wiele, president classifieds media Axel Springer, and Michael Bruce, CEO Purplebricks, each take a seat on the advisory board of Homeday. The previous lead investor Project A also remains invested and increases its stake to a 39 per cent. The transaction is subject to approval by the antitrust authorities.

Based in Berlin, Homeday operates, a transaction-based digital real estate platform in Germany that brings customers together with experienced brokers and supports them in buying and selling real estate.

Axel Springer holds a minority investment of 12.5 per cent in Purplebricks. Purplebricks operates, UK’s national transactional digital real estate platform. The company is also active in Australia, the USA, and Canada.

Axel Springer is a member of FIPP.

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