Scout24 SE (XTRA:G24) signed an agreement to acquire 75% stake in Sprengnetter GmbH for ?53.4 million on June 19, 2023. Valuation of Sprengnetter Group for the initial 75% stake acquisition amounts to ?100 million (100%) on debt and cash free basis. A large part of the initial purchase price for the 75% stake acquired will be paid in Scout24 shares with a multi-year lock-up agreement, making Jan Sprengnetter a meaningful long-term shareholder of Scout24.Based on the current estimate 0.9 million shares to be transferred will be determined based on the volume weighted average share price for a period prior to closing.

Shares issued will be fully or partially offset by the ongoing current share buyback programme. Jan Sprengnetter will remain a 25% shareholder in the company. The final stake sale is subject to an earn-out mechanism.

The transaction is expected to close in July and the business will be consolidated from 2HY onwards. Giuliano Lanzavecchia and Chiara Carioti of Osborne Clarke Italy advised on the acquisition to Scout24.