Allen & Overy advises Scout24 AG on successful completion of public repurchase offer at a buyback volume of 794.2 million euros

With the announced tender result, the company has reached the most important milestone of its capital return roadmap, it said, adding that it was very pleased with the acceptance rate of 81.6% in the highly flexible transaction structure.

The capital return roadmap was set up in connection with the sale of AutoScout24 in March 2020. According to this roadmap, capital of up to 1.69 billion euros is to be returned to shareholders. With the completion of the public repurchase offer, around 1.28 billion euros of the plan have been fulfilled. The next measure is a share buyback via the stock exchange of up to 200 million euros.

The Allen & Overy team comprised partners Dr Christian Eichner (lead partner) und Dr Hans Diekmann, counsels Kyrill Chilevych (all Dusseldorf) and Dr Katharina Stüber (Frankfurt), associates Simon Binn, Eva Hohmann (both Dusseldorf) and Christina König (Frankfurt, all Corporate/M&A). Advice on tax aspects was provided by partner Dr Michael Ehret and senior associate Marc Stollenmayer (both Frankfurt, Tax), while partners Marc Plepelits (Frankfurt, Capital Markets) and Eric Shube (New York, Corporate/M&A) and senior associate Martin Schmidt (Frankfurt, Capital Markets) advised on aspects relating to US law.

Scout24’s legal in-house team comprised Dr Christian Ronge (General Counsel) und Nicole Müller (Senior Legal Counsel).