The proposed acquisition of the French real estate portal SeLoger by Axel Springer AG (a major German media company) is threatening to become a bidding race.
Originally, the German media company Axel Springer, which already owns 12.4% of proptech company SeLoger, wanted to pay round about €500 million for the acquisition.
A few days after Axel Springer’s offer was announced, a big Australian investment fund called Caledonia invested in the French company. This Australian fund has just now acquired 10% of the young proptech startup’s shares.
In addition to the new investor Caledonia, there also seem to be other companies that are interested in SeLoger, such as the newspaper Le Figaro and the French company Lagardere. Paris-based SeLoger has indeed developed into a very profitable online business within the real estate market over the past few years.
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