Quantcast

ProSieben e-commerce unit takes control of Aroundhome


Reuters


FRANKFURT, Jan 14 (Reuters) - German media group ProSiebenSat.1 Media said that its Nucom e-commerce unit was taking control of Aroundhome, an online broker for home services and products, in a deal valued at 140 million euros ($161 million).

As part of the transaction, investment company General Atlantic will swap its direct stake in Aroundhome for an increased holding in Nucom which will rise to 28.4 percent from 25.1 percent, ProSieben said in a statement on Monday.

ProSieben and General Atlantic joined forces last year to develop the broadcaster's portfolio of e-commerce assets bundled into Nucom, which comprises 10 companies, as part of a strategy to offset weakness in its core TV business.

Aroundhome CEO Robin Behlau will retain a 6 percent stake and continue to run the company.

($1 = 0.8717 euros)





This article appears in: Politics , World Markets , Stocks



More from Reuters

Subscribe






See Reuters News











Research Brokers before you trade

Want to trade FX?