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Article: Bank, PBL in bid for website.
- Article from:
- Australasian Business Intelligence
- Article date:
- August 16, 2007
CopyrightCOPYRIGHT 2007 News provided by Comtex. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Jesse Hogan
Aug 16, 2007 (The Age - ABIX via COMTEX) -- Macquarie Bank and Publishing & Broadcasting Limited (PBL) are trying to jointly acquire a 66.2% stake in a classifieds web site. Immobilien Scout is the leading real estate web site in Germany, and the Australian companies have offered to pay Stg357m ($A593.4m) for the majority stake. A purchase agreement has been negotiated with majority owner Aareal Bank, but minority partner, Deutsche Telekom subsidiary Scout 24, has first option over Aareal's holding. The deal is also subject to approval by the Immobilien board and the Federal Cartel Office in Germany.
Publication Date: 17 August 2007
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