Axel Springer is granted unconditional clearance by the French Competition Authority to acquire Logic-Immo




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01.02.18

Axel Springer is granted unconditional clearance by the French Competition Authority to acquire Logic-Immo

To press release overview

With the acquisition of Logic-Immo Axel Springer strengthens its digital activities of classifieds in the French real estate sector / Combined SeLoger and Logic-Immo will provide the most efficient and innovative service for real estate agents in the French market
 
 

Axel Springer Digital Classifieds France, the holding company of Axel Springer's classifieds businesses in France, has today been granted unconditional clearance by the French Competition Authority to acquire Concept Multimédia with its core brand Logic-Immo from the French media holding Spir Communication SA. The deal would value Concept Multimédia at EUR 105 million (cash/debt free). Final closing requirements are expected to be fulfilled for a definitive closing of the transaction at the beginning of February.

Concept Multimédia is based in Aix-en-Provence and Paris and runs the real estate portal Logic-Immo.com, as well as dedicated online portals for luxury real estate and new buildings and a number of print publications with real estate ads in France. Logic-Immo.com reaches 3.0 million people per month (source: Médiamétrie, unique visitors, October 2017). With SeLoger, Axel Springer already has a leading real estate classifieds site in France, reaching 5.5 million people per month (source: Médiamétrie, unique visitors, October 2017).

Through the acquisition of Concept Multimédia, Axel Springer Digital Classifieds France will further differentiate its range of real estate portals and will be excellently positioned for further growth in the competitive French real estate classifieds market.

Dr. Andreas Wiele, President Classifieds and Marketing Media Axel Springer SE: "Thanks to the combination of SeLoger and Logic-Immo, millions of French consumers will have easier access to the home of their dreams. And Axel Springer further strengthens its position in the prospering French digital economy."

Bertrand Gstalder, CEO SeLoger and CEO Axel Springer Digital Classifieds France: "By combining audiences and undisputed know-how of SeLoger and Logic-Immo, we are providing real estate agents with the most efficient and innovative service in the French market."

Patrice Hutin, CEO Spir Communication SA: "I am very happy having received clearance by the French Competition Authority for the transaction, which will secure a great future for Logic-Immo and its employees alongside the best possible partner."

Cyril Janin, General Manager Concept Multimédia SAS: "With Axel Springer and SeLoger we will have the opportunity to accelerate the development of Logic-Immo. We look forward to collaborating with our new colleagues from SeLoger and to being part of the large Axel Springer family."

About Axel Springer SE and Axel Springer Digital Classifieds France

Axel Springer is Europe's leading digital publisher. With headquarters in Berlin, the company is active in more than 40 countries with subsidiaries, joint ventures, and licenses. Axel Springer SE is divided into three segments: Classifieds Media, News Media and Marketing Media. The company employs more than 15,000 people worldwide. Axel Springer Digital Classifieds France is the holding company for the French classifieds activities of Axel Springer which include the SeLoger Group and the well-known French car classifieds portal La Centrale and a number of other web offerings in the car and boat space.

About Concept Multimédia

Concept Multimédia, founded in 1995, is based in Aix-en-Provence and Paris and runs the real estate portal Logic-Immo.com, as well as dedicated online portals for luxury real estate and new buildings and a number of print publications with real estate ads in France. Concept Multimédia employs around 320 people.

About SeLoger

SeLoger is a leading real estate classifieds site in France. The company was founded in 1992 and acquired by Axel Springer in 2011. Over the past few years, SeLoger has successfully extended its reach to various types of property through a broad range of dedicated brands such as Belles Demeures, SeLogerNeuf, SeLoger Construire, LouerVite, LaCoteImmo, AgoraBiz, Webimm and SeLoger Vacances. SeLoger employs around 450 people in its Paris offices.

Press Contact Axel Springer SE:
Jorg Keller

Tel: +49 30 2591 77617