Scout24 : We see only limited value in Scout24’s acquisition of Finanzcheck.de
>Scout24 buys loan comparison portal Finanzcheck.de for € 285m - Scout24 announced the acquisition of Finanzcheck.de, currently number 3 among German online comparison portals for consumer loans (after Check24 and Smava). The purchase price of € 285m equates to an EV/Sales multiple of 8x (2017) and 7x (2018e). This all-cash deal will be financed via a credit facility which is expected to raise Scout24’s net debt/ordinary operating EBITDA ratio to ~3.0x after closing. ...Scout24 AG, formerly Asa NewCo GmbH, is a Germany-based holding company engaged in the Internet services industry. Through its subsidiaries, the Company provides digital classified advertisement platforms in Germany and other European countries, notably Scout24.com, ImmobilienScout24.de and Autoscout24.com. The Company owns the automotive classifieds Websites AutoScout24.nl and European AutoTrader BV, and the real estate online portals my-next-home.de and immodirekt.at, as well as an online comparison portal for consumer loans FINANZCHECK.de.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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