Swedish Startup Space

Schibsted places an offer to acquire online real estate company Hemnet

Written by on May 8, 2015

Schibsted Media Group has placed a conditional offer to acquire the Swedish online real estate vertical Hemnet. The offer is for the entire company, which is owned by Swedbank Fastighetsbyrå, Mäklarsamfundet, Fastighetsmäklarförbundet FMF and Svensk Fastighetsförmedling.

Fastighetsbyrån and Svensk Fastighetsförmedling have accepted the offer, which gives Schibsted 50 percent of shares in Hemnet

Fastighetsbyrån and Svensk Fastighetsförmedling have accepted the offer, which gives Schibsted 50 percent of shares in Hemnet. The offer has been communicated to the other owners. The offer is conditional on Schibsted acquiring 100 percent of shares in the company and approval of the acquisition by the Swedish Competition Authority.

An acquisition of Hemnet will amplify Blocket’s successful entry into the online classifieds real estate market which started with the launch of Blocket Bostad in 2011.

Rolv Erik Ryssdal, CEO Schibsted Media Group about the deal:

“Blocket Bostad has been strategically important to us. We have gotten to know the realtor industry, built valuable relationships with realtors and developed a very good real estate vertical. I am proud of what the team in Blocket Bostad has achieved in such a short time period. At the same time, we acknowledge that Hemnet has a particularly strong position in the Swedish market,”

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