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Axel Springer plans takeover of French portal Logic-Immo

By Sabine Brix 0 Comments NEWS, Uncategorised
Axel Springer

Axel Springer's German headquarters. Photo credit: adage.com

Axel Springer Digital Classifieds Group France  is making a play for the Parisian property portal Logic-Immo, in a planned €105 million deal.

The European media house announced its intention to enter into an agreement with the French media group Spir Communication SA, with the aim of taking over Spir’s subsidiary Concept Multimédia, which operates Logic-Immo.

The proposed deal would value Concept Multimédia at EUR 105 million (cash/debt free) and will be submitted to the works councils of the companies concerned and finalised once the French Competition Authority has approved the transaction.

Concept Multimédia is based in both Aix-en-Provence and Paris and, in addition to running Logic-Immo.com, also houses a number of print publications with real estate ads that are dedicated to online portals for luxury real estate and new builds.

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