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ProSiebenSat.1 could buy back General’s Atlantic’s Nucom stake: cfo
Posted on Wednesday, 16 May 2018 13:23
German mass media player ProSiebenSat.1 may repurchase a shareholding it recently sold to US private equity firm General Atlantic, according to the company’s financial chief.

Reuters picked up on comments made by Jan Kemper earlier today, when she said that if the investor wants to exit German ecommerce company Nucom, the most likely course of action would be to sell the stake back to its original owner.

General Atlantic agreed to acquire a 25.1 per cent share of the Unterfohring-headquartered business, which serves as ProSiebenSat.1’s digital commerce division, on 22nd February.

Under the terms of the deal, the private equity firm committed to pay EUR 451.80 million for the holding, based on an enterprise value of EUR 1.80 billion.

It was simultaneously announced that Nucom would acquire stakes in Verivox, Parship Elite and SilverTours. The former two deals can be valued at EUR 52.47 million and EUR 169.40 million, respectively, while no financial details of the latter transaction were disclosed.

According to Nucom’s website, the company’s goal is to become the number one omnichannel platform for consumer services and lifestyle brands in Europe.

The firm has so far completed ten investments with a combined value of EUR 800.00 million.

Its portfolio includes dating application ElitePartner, online comparison portal Verivox and gift and experience vouchers provider mydays.

According to Zephyr, the M&A database published by Bureau van Dijk, ProSiebenSat.1 has already completed one acquisition of its own this year.

Back in January, it paid an undisclosed consideration to pick up Frankfurt-headquartered online advertising aggregation and targeting services provider Kairion from Cocomore.

ProSiebenSat.1 posted revenue of EUR 881.00 million in the first quarter of 2018, down from EUR 910.00 million over the corresponding timeframe in the previous year.

Gross profit for the period totalled EUR 392.00 million, compared to EUR 388.00 million in the opening three months of 2017.

© Zephus Ltd