Axel Springer’s public tender offer for all outstanding shares of has been cleared

The French Securities Regulator (Autorité des marchés financiers or AMF) has cleared the offer of Axel Springer for all outstanding shares of, the leading French property classifieds portal. Axel Springer offers all shareholders of EUR 34.00 per share in cash, valuing the company at a total of EUR 566 million.

The AMF will set the timetable for the public tender offer shortly. With the approval of the transaction by the French Competition Authority on November 3, 2010, the offer has become unconditional. 

Ralph BüchiRalph Büchi, President Axel Springer International at Axel Springer AG: “Now the decision is solely up to the shareholders of They have the opportunity to sell their shares at a price of EUR 34.00 per share and realize an attractive cash consideration.”

Büchi added: “We continue to believe that we can be a valuable shareholder for Axel Springer has considerable digital expertise, a reach throughout all major European markets and strong financial capabilities. We will therefore be able to support in its further development both in France and abroad, in case the management team of the company should decide to pursue a strategy of internationalization.”

Axel Springer already holds a 12.4 percent stake in acquired from a group of shareholders, including the founders Amal Amar and Denys Chalumeau as well as other members of the supervisory board and the management board.

Germany, Berlin and France, Paris

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