BOULOGNE-BILLANCOURT, France--(BUSINESS WIRE)--Regulatory News:
This replaces the announcement made at 06:06 PM on November 30, 2017 due to the following corrections: Sentence added at the end of the first paragraph.
SoLocal Group announces the successful sale of its online real estate classifieds business, avendrealouer.fr, to leboncoin Group
SoLocal Group (Paris:LOCAL), leader in local online communication, announces the finalization of the sale of its online real estate classifieds business, avendrealouer.fr, to leboncoin Group, in accordance with the announcement made on 27 October 2017. This transaction has been made on the basis of a sale price of € 19.8 million as of 30 November 2017, this amount being subject to evolution post-transfer, on the basis of adjustment criteria agreed between the parties.
Acquired in 2011 from PriceMinister, A Vendre A Louer benefited from the support of SoLocal Group, which allowed it to become a reference in its sector by strengthening its assets with 6 million visits / month and a turnover of € 10 million in 2016, thanks to recognized expertise and talents in the field of marketing in the online real estate classifieds market. A Vendre A Louer joins leboncoin Group today, with all its employees.
This sale operation, which reflects positively this value creation generated by SoLocal Group and comes at a favourable moment of main market players consolidation, confirms the continuation of non-strategic activities divestment for SoLocal in favor of priority and structuring investments on high-potential markets, around the Local Search (e.g. referencing on the Group's media such as pagesjaunes.fr and mappy.com and those of partners with Bing, Google, Apple, etc.) and Digital Marketing (e.g. : content creation including 4 million reviews on professionals, transactional services with ClicRDV online appointments, design / management of websites for professionals, data-programmatic, etc.), in order to find some leeway to invest and innovate.
"We are proud to have supported the development of A Vendre A Louer for the past six years. The strength of SoLocal 's salesforce spread throughout France, closer to real estate agencies, and the complementarity of our digital expertise have been outstanding assets to enhance the attractiveness of A Vendre A Louer. We wish the teams all the best for the future. This disposal allows to create value for our shareholders and no longer to focuse on the classifieds market but on local digital communication advice for real estate professionals (website creation, SEO offers, etc.). The challenge is to refocus priorities on our high-growth strategic digital activities : Local Search and Digital Marketing. Indeed, our ambition is to make SoLocal a recognized digital leader in France to provide growth to small and medium businesses and network companies. We already have outstanding assets : we are working to make them more effective and to complete them, and we are therefore confident in our ability to succeed ! " says Pascal Garcia, Secretary General and Strategy Director of SoLocal Group.
Key dates and figures on A Vendre A Louer
(source : Médiamétrie)
Key dates and figures on SoLocal (source :
Morgan Lewis & Bockius and Clairfield International acted as advisors in this sale operation.
About SoLocal Group
SoLocal Group, European leader in local online communication, reveals local know-how, and boosts local revenues of businesses. The Internet activities of the Group are structured around two business lines: Local Search and Marketing Digital. With Local Search, the Group offers Internet services and solutions to clients which enable them to enhance their visibility and develop their local contacts. Thanks to its expertise, SoLocal Group earned the trust of some 490,000 clients of those services and over 2.4 billions of visits via its 4 flagship brands (PagesJaunes, Mappy, Ooreka and A Vendre A Louer) but also through its partnerships. With Marketing Digital, SoLocal Group creates and provides the best local and customised content about professionals. With over 4,400 employees, including a new orders force of 1,900 local communication advisors specialised in five verticals (Home, Services, Retail, Health & Public, BtoB) and Internationally (France, Spain, Austria, United Kingdom), the Group generated in 2016 revenues of 812 millions euros, of which 80% on Internet and ranks amongst the first European players in terms of Internet advertising revenues. SoLocal Group is listed on Euronext Paris (LOCAL). More information may be obtained at www.solocalgroup.com.