Schibsted big step closer to buying Hemnet – Swedish Dagbladet

Photo: Henrik Montgomery / TT

Associate members of the community said at the Society’s annual meeting yes to accept Schibsted’s bid to buy residential site Hemnet. This means that now only missing a yes from the Estate Agents Association, which owns 25 percent of Hemnet Shares.

– Mäklarsamfundet have arrived at its recommendation that Schibsted as a buyer. Three of four owners have therefore decided and it’s very gratifying, says Raoul Grünthal, CEO of Schibsted Sweden.

The Norwegian media group was already in May this year a bid for Hemnet shares that valued the company at 1.5 billion crowns. The price tag is unchanged but Mäklarsamfundet snapped up the offer so that the community had a condition that it will retain 10 percent stake.

Raoul Grünthal, CEO of Schibsted Sweden. Photo: Maja Suslin / TT

Is there a barrier?

– It is positive, it becomes a partnership. This kind of marketplace must live in harmony with the industry in which it acts market. To Mäklarsamfundet marks the long-term by remaining as owner, we see as very positive.

What would a completion of the deal mean for Schibsted?

– Hemnet is a very exciting and strong site and we see that we have been possible to develop it further. We believe we are a good owner for this kind of site. We see it as an important addition to our digital portfolio, he says and continues:

– This is about our position in Sweden. We are building a number of platforms and each site, but also the whole of the sites, is interesting. We tend to talk about a digital ecosystem.

When Schibsted la the bid was accepted by two of Hemnets four owners. While Swedbank and the Swedish Property said yes wanted to Real Estate Agents and Estate Agents Association, which owns 25 percent of the shares in Hemnet, to be paid more.

Therefore started bidding between Schibsted, Bonnier together with EQT and private equity company Nordic Capital . Newly elected Bonnier and EQT to pull out and thereby standing struggle for residential site between Schibsted and Nordic Capital.

How far away is a ready business?

– I hope we will be able to implement the deal. It is a big step. But first, let’s get information from all owners and then there is of course a matter for the Competition Authority. So there is a process there.