Axel Springer Digital Classifieds: SeLoger.com sells its 17.2 percent interest in iProperty.com




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28.07.14

Axel Springer Digital Classifieds: SeLoger.com sells its 17.2 percent interest in iProperty.com

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With the divestment SeLoger.com realizes a profit of around 55 million EUR

SeLoger.com SA, a subsidiary of Axel Springer Digital Classifieds and largest property online portal in France, today announced the divestment of its minority stake in iProperty.com. REA Group Ltd acquired the 17.2 percent interest. The selling price amounts to around 106 million AUD/ 75 million EUR (3.40 AUD per share).

Seloger decided to sell its interest in iProperty because it was not possible to gain a strategic majority and also because it wanted to focus more on the European market in the future. With the investment in iProperty in 2011, SeLoger benefited from the growth in the Southeast-Asian countries and the development of their classifieds segment. With the divestment SeLoger realizes a profit of around 55 million EUR.

The Australian listed iProperty Group operates property portals in Malaysia, Hong Kong, Indonesia, Singapore, Macau and has investments in India and the Philippines.

About SeLoger

SeLoger.com SA is a leading operator of online portals dedicated to the posting of property advertisements in France. Founded in 1992, the company today successfully operates ten property online portals including www.seloger.com and www.selogerneuf.com. SeLoger is headquartered in Paris and a subsidiary of Axel Springer Digital Classifieds.

Press Contact Axel Springer SE:
Michael Schneider

Tel: +49 30 2591 77644