The company was pressured earlier in the summer by investors Elliott Advisors to spin-off or sell their auto portion which is currently the country's second-largest used-vehicle platform.
The potential groups looking to buy are Permira, Apax, Carlyle, and Hellman & Friedman who potentially could bid around $2.2-2.5 billion for AutoScout24.
Scout24 and the possible buyers didn't discuss the potential sale.
“We are still undertaking a strategic analysis of what we will do with AutoScout24,” a Scout24 spokesman said.
“No decision has been taken on the path that we will take.”
Currently, Scout24 has two main businesses. ImmobilienScout24, a real-estate classifieds platform that leads the market within Germany and AutoScout24, which currently operates in Italy, Netherlands, Austria, Belgium, and Germany and is the biggest online auto platform in the EU.
Elliott Advisors had pressured Scout24 by saying that their two platforms didn't have enough partnerships and synergy with ImmobilienScout24 worth around 5 billion euros and AutoScout24 at around 2.5 billion euros.
“The valuation of more than 2 billion euros appears steep, but is optically inflated through Scout24’s acquisition of loss-making consumer finance firm Finanzcheck and the transfer of some consumer service ops to Autoscout,” one source said.
Hellman & Friedman had a controlling stake over Scout24 back in 2013 and then listed the business and sold off their shares in 2015. Earlier this year Hellman and Blackstone made a joint bid to take control of Scout24 again but failed to do so.
Axel Spring, a publisher, may also be putting forth a big and recently stated they were looking for possible takeovers.
Auto1 has previously offered to purchase AutoScout previously, but the offer was turned down.
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