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Pulver Decides To Make Voluntary Takeover Offer To All Shareholders Of Scout24

Pulver BidCo GmbH, a holding company jointly controlled by funds advised by Hellman & Friedman LLC and affiliates of The Blackstone Group L.P., decided to submit a voluntary public takeover offer to the shareholders of Scout24 AG for all Scout24 shares.

Pulver BidCo noted that it will offer 46.00 euros per Scout24 share in cash to all shareholders of Scout24 AG. This corresponds to a premium of approximately 27.4% to the unaffected share price as of 13 December 2018 of 36.10 euros, and an approximate 24.4% premium to the unaffected 3-month volume-weighted average share price. The offer price implies an equity value of Scout24 AG of approximately 4.9 billion euros and an enterprise value of approximately 5.7 billion euros.

The Takeover Offer will be subject to a minimum acceptance threshold of 50% plus one share.

Scout24 AG noted that its Management Board and the Supervisory Board will support the Takeover Offer and recommend to the shareholders of Scout24 AG to accept the Takeover Offer. Furthermore, the members of the Management Board and the Supervisory Board, subject to applicable legal restrictions, have indicated that they will accept the Takeover Offer for shares in Scout24 AG held by them (if any).

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