Connect with us

Hi, what are you looking for?

Jewish Business News

Business

Axel Springer offers $40 million for Zap Group

Having already bought Yad2, the German media giant wants to acquire the Golden Pages website directory company.

Zap Group

Please help us out :
Will you offer us a hand? Every gift, regardless of size, fuels our future.
Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone.
You can support us for as little as $1 via PayPal at office@jewishbusinessnews.com.
Thank you.
German media giant Axel Springer has offered to buy website directory company Zap Group (formerly Dapei Zahav – Golden Pages) for NIS 140 million (about $40 million). The bid comes one month after buying classified ads website Yad2 for NIS 800 million (about $231 million) from Bezeq Israeli Telecommunication Co. Ltd. (TASE: BEZQ).

The sum being offered by Axel Springer is 75% above the purchase offer made last month by FIMI Opportunity Funds (FIMI) and Sky Fund.

A shareholders meeting has been called to discuss the two offers. Zap Group has debts totaling NIS 80 million (about $23 million)

Published by Globes [online], Israel business news – www.globes-online.com – on June 9, 2014

Newsletter



Advertisement

You May Also Like

World News

In the 15th Nov 2015 edition of Israel’s good news, the highlights include:   ·         A new Israeli treatment brings hope to relapsed leukemia...

Entertainment

The Movie The Professional is what made Natalie Portman a Lolita.

Travel

After two decades without a rating system in Israel, at the end of 2012 an international tender for hotel rating was published.  Invited to place bids...

VC, Investments

You may not become a millionaire, but there is a lot to learn from George Soros.