Deutsche Telekom (DT) has agreed to sell a 70% stake in classified advertising business Scout24 to private equity firm Hellman & Friedman for €1.5bn (US$2bn).
The deal is expected to close in the first quarter of 2014 and is subject to authority…
Deutsche Telekom (DT) has agreed to sell a 70% stake in classified advertising business Scout24 to private equity firm Hellman & Friedman for €1.5bn (US$2bn).
The deal is expected to close in the first quarter of 2014 and is subject to authority approvals. DT will hold onto the remaining 30% stake.
Timotheus Hottges, CFO and CEO designate of DT, said: “We chose this 70/30 partnership to allow us to deliver this outstanding result to our shareholders, while gaining the right partner for the future.”
Goldman Sachs and Jefferies acted as financial advisers and Hengeler Mueller acted as legal adviser to DT.
Last week, DT agreed to buy Warsaw-based infrastructure telco GTS Central Europe for €546m (US$730m), boosting its fixed-line infrastructure in the region.
