bid values Hemnet 1.5 billion in enterprise value, and Schibsted is funding the bid with the existing loan facilities, writes the group in a press release.
Schibsted own this ad site block. The deal must be approved by the Competition Authority before breaking through.
“Hemnet is a well- Companies with a strong market position with nearly 100 percent of all homes for sale in Sweden, which strengthens and complements Schibsted nätannonstillgångar in the country, “writes Schibsted in a press release.
The deal would strengthen block private residential site launched in 2011.
– Block rentals have been strategically important to us. We have come to know the real estate business, has built important relationships with brokers and developed a very good residential vertical, says Rolv Erik Ryssdal, Schibsted CEO.
– While we recognize that Hemnet has a particularly strong position in the Swedish market, says Ryssdal.
Hemnet owned today of Swedbank Real Estate Agency, Real Estate Agents, Estate Agents Association and the Swedish Property.
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