Axel Springer acquires the remaining 15% in online classified ad company Axel Springer Digital Classifieds

axel_springer_logoAxel Springer has acquired the 15% it did not own in Axel Springer Digital Classifieds GmbH from PE firm General Atlantic. General Atlantic will receive 8,955,311 new shares in Axel Springer SE. As a result, Axel Springer will own 100% of Axel Springer Digital Classifieds GmbH and General Atlantic will own 8.3% of Axel Springer.

Axel Springer and General Atlantic entered into a strategic partnership in 2012 to create Axel Springer Digital Classifieds. The new joint venture was comprised of the French real estate portal SeLoger, the German real estate portal Immonet, and the European job exchange StepStone.

The goal of the partnership was to create opportunities for rapid growth and further internationalisation through bundling offers in a company with strong capital resources. Axel Springer Digital Classifieds has expanded its job portals (such as Totaljobs, Saongroup, YourCareerGroup, Jobsite and Drushim), real estate portals (such as Immowelt and Immoweb), the regional portal meinestadt.de, the car classifieds portal LaCentrale, and the Israeli classifieds portal Yad2.

Germany, Berlin

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