Published On: Tue, Jun 10th, 2014

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

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

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