Corporate Finance Partners (CFP): XING AG – Block Sale of 25.1% to Burda for EUR 48.29 million
(PM) Frankfurt, 19.11.2009 - Burda Digital GmbH, a fully owned subsidiary of Hubert Burda Media, has acquired a total of 1,323,041 XING shares from Cinco Capital GmbH, the investment vehicle of Lars Hinrichs, founder and former CEO of XING AG. Thus, with a 25.1% shareholding, Burda has become the largest shareholder of listed XING AG.
"We welcome Hubert Burda Media as the new major shareholder of XING. Burda is an experienced investor with years of Internet expertise and we look forward to working together”, says Stefan Gross-Selbeck, CEO of XING AG in Hamburg. "Just like Burda Digital, we see a promising market potential in order to grow successfully and profitably."
"The investment is an important step in the expansion of the digital activities of the company," says Dr. Hubert Burda. For more than a decade Hubert Burda Media has continuously been investing in digital businesses. Digital investments comprise 41 growth companies of the online division. "We have high respect for the entrepreneurial accomplishments of XING AG and look forward to the joint development of the online platform," says Dr. Paul-Bernhard Kallen, Chief Technology Officer, Finance & International of Hubert Burda Media.
"Having advised the seller on this highlight transaction we have once more demonstrated that we are the leading M&A advisor in the German Internet sector", commented Andreas Noth, Managing Director of Corporate Finance Partners, which acted as financial adviser to Cinco Capital in this transaction.
About XING AG:
XING is the leading European online business network. Over 8 million members use XING in 16 languages to do business, find jobs, and pursue a career. XING helps members get connected and stay in touch with their contacts with customized networking solutions and services. Members are active on XING because of the real value generated, with XING Jobs, over 30 thousand specialized groups, and over 90 thousand live networking events a year, organized by members for members. Since the 2006 IPO, the XING AG share has established a solid position for itself on the stock market, the first and to date only Web 2.0 company to do so. XING AG is headquartered in Hamburg, Germany, and has local offices based in its key strategic growth markets.
About Cinco Capital GmbH:
Cinco Capital is an independent investment company headquartered in Hamburg, Germany. Cinco Capital is building a portfolio of holdings in private companies. Currently Cinco Capital holds investments in Europe and the U.S. in different industries such as technology, financial services, telecommunications, wholesale, marketing, media and others.
About Corporate Finance Partners (CFP) Group:
Corporate Finance Partners (CFP) provides corporate finance advisory services with focus on mergers & acquisitions and private equity/ venture capital placements for small and mid-sized enterprises (SME’s). Corporate Finance Partners (CFP) achieves global reach through offices in Germany, USA, Japan, Austria, Hungary and Estonia. Corporate Finance Partners (CFP) was founded in 1998 and since then has built up significant expertise and track record in areas like telecommunications/ media/ Internet, life sciences/ pharma and restructurings/ special situations. Corporate Finance Partners (CFP) today is a growth industry focused M&A boutique with 12 managing directors supported by 70 investment banking professionals.
More Information: www.cfpartners.com/
Corporate Finance Partners (CFP)
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