The Executive Board and the Supervisory Board of ProSiebenSat.1 Media have approved a proposed agreement with General Atlantic on the acquisition of its minority stakes in NuCom Group (excluding flaconi) and ParshipMeet Group.

ProSiebenSat.1 has also signed a binding agreement with a subsidiary of Moltiply Group for the sale Verivox, the consumer energy and household services price comparison website. The sale is based on an equity value of approximately €232 million for Verivox.

ProSiebenSat.1 has agreed with General Atlantic to acquire its entire minority shareholdings in NuCom Group (excluding flaconi) and ParshipMeet Group for a consideration which, amongst others, includes a cash component of €10 million, the transfer of approx. Some 5.9 million ProSiebenSat.1 treasury shares (corresponding to around 2.5 per cent of the company’s share capital and to a current market value of approximately €38 million) to General Atlantic, as well as a fixed exit participation for General Atlantic in the amount of €50 million payable upon an exit of ProSiebenSat.1 from the ParshipMeet Group.

In addition, General Atlantic will participate alongside ProSiebenSat.1 in proceeds (if any) from a pending litigation of NuCom Group vis-à-vis a third party; possible claims from such litigation are not yet reflected in ProSiebenSat.1’s accounts.

General Atlantic will hold its 28.4 per cent minority stake in flaconi directly and not, as currently, indirectly through NuCom Group. ProSiebenSat.1 will maintain a preferred equity interest of approximately €95 million (as of year-end of 2024) in flaconi, along with a 71.6 per cent majority stake.

Speaking on the Verivox deal, Bert Habets, Group CEO of ProSiebenSat.1, said it was an important step in the company’s long-term vision, noting: “Selling Verivox has been a top priority, and with our new agreements, we now have full flexibility to reshape our portfolio and strengthen our core business.”

Daniel Puschmann, CEO of Verivox added: “We are very much looking forward to working with our new shareholder Moltiply Group S.p.A. It is great to now be part of a strong network of European online comparison platforms and we are convinced that together we will continue the success story of Verivox. With our new owner, the basis has been laid for the further sustainable development and successful growth of Verivox. We would like to thank our previous shareholder, the NuCom Group, as well as ProSiebenSat.1 and General Atlantic for the many years of consistently trusting cooperation.”

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Categories: Articles, Business, M&A

Tags: ProSiebenSat.1, verivox