KKR acquires 49% of Ringier Digital subsidiaries

Press reports suggest that the deal will be funded by some $175m from KKR's European Fund III which, according to unquote" data, closed on €4.8bn in June 2008.

The investment saw KKR acquire 49% of the shares in each of Ringier Digital's subsidiaries. Scout24 Schweiz comprises two online marketplaces for motor vehicles (Autoscout24 and Motoscout24), as well as real estate (Immoscout24) and a general classifieds marketplace (Anibis). Omnimedia has exclusive marketing rights for the Scout24 platforms.

Scout24 and Omnimedia currently account for 30% of Ringier's revenues. The media group stated it aims to increase that share to 50% during the next three to four years.

The existing management team will remain in place following the transaction, with the goal of further expanding the two companies' market position.

KKR has already invested in digital media, using the Europe III vehicle to acquire a 51% stake in Berlin-based BMG Rights Management in July 2009 for €250m. It invested alongside Bertelsmann, which bought KKR's stake in March last year for approximately €500m. The entire business was valued at around €1.1bn.

Company
Founded in 1995 as Xmedia, Scout24 Schweiz operates a Swiss network of online marketplaces. The platforms receives a combined 21 million visits per month.

Digital marketing company Omnimedia was founded in 2007 and entered the market in 2008. It offers target-group-specific online advertising to its national and regional clients.

People
Marc Walder is Ringier's CEO and will become chairman of Scout24's board of directors. Philipp Freise is member and head of the European Media and Digital investment team at KKR.

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• Topics
• DACH
• Buyouts
• Consumer
• Switzerland
• KKR