September 4, 2019 / 8:38 PM / 6 months ago

Hellman & Friedman, Blackstone sell 6.2% stake in Scout24

FILE PHOTO: The headquarters of Scout24, an operator of digital marketplaces for real estate and automobiles, is pictured in Munich, Germany, July 5, 2019. REUTERS/Michael Dalder/File Photo

(Reuters) - Hellman & Friedman and Blackstone Group Inc (BX.N) are selling a 6.2% stake they owned in Scout24 AG (G24n.DE) to institutional investors on Wednesday, according to two bookrunners handling the deal, months after their failed attempt to buy the German classifieds group.

The shares are being sold by Pulver BidCo GmbH, the American private equity firm and Blackstone’s acquisition vehicle, at an indicated price of 52 euros per share, according to the bookrunners.

Shares of Scout24, best known for its ImmobilienScout24 home listings in Germany and AutoScout24 car listings across Europe, closed at 53 euros on Wednesday.

A takeover bid for Scout24 led by Hellman & Friedman and Blackstone failed in May as it did not secure the required support of 50% of shares.

Investors had pitched an offer of 46 euros a share for the German company.

Reporting by Bhargav Acharya in Bengaluru; Editing by Tom Brown

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