Binder Grösswang has advised the Scout24 group on the acquisition of Austrian real-estate portal www.immobilien.net.
With this takeover, the Germany-based Scout24 group has expanded its investment in Austria and is continuing its growth course. ImmobilienScout24 has pursued business activities in Austria through the platform www.immobilienscout24.at for more than two years.
Through this acquisition, two online portals are merging to form the largest and fastest-growing real-estate platform in Austria in terms of client numbers. Together, the two platforms recently registered a total of approximately 1.6 million visitors per month.
The acquisition is one of the largest takeovers in the history of the Austrian online sector. The parties have agreed not to disclose the purchase price. The transaction was closed on 28 May 2014.
The Binder Grösswang team for this transaction comprised: Thomas Schirmer (lead adviser and partner, corporate/mergers and acquisitions), Michael Lind and Markus Uitz (partners, corporate/mergers and acquisitions), Hermann Schneeweiss (attorney, corporate/mergers and acquisitions) and Markus Reinfeld (associate, transactions). They were supported by Ivo Rungga and Hellmut Buchroithner (intellectual property and information technology), Johannes Barbist (antitrust), and Angelika Pallwein-Prettner and Johannes Bammer (employment).
The sellers Markus and Alexander Ertler were advised by Dorda Brugger Jordis, whose team was led by Jürgen Kittel.