On January 18, 2011, Axel Springer and SeLoger.com announced that they reached an agreement on a friendly improved offer for the shares of SeLoger.com, a French market leader in online real-estate advertising, at a price of €38.05 per share.

The German media group had launched a public cash tender offer for SeLoger.com on September 28, 2010, after the acquisition of approximately 12.4% from certain members of SeLoger.com’s Supervisory Board and Management Board, including the two founders thereof. On November, 29, 2010, the AMF cleared the offer. SeLoger.com filed an appeal against the AMF’s decision before the Paris Court of Appeal.

On February 1, 2011, the AMF cleared the improved offer, which includes a minimum acceptance threshold set at 50.01% of the share capital and voting rights of SeLoger.com.

Axel Springer was represented by Shearman & Sterling, with partner Mathieu Remy, Of Counsel Christian Guilluy, Counsel Aline Cardin, associates Régis Henry and Arthur Ravignon (M&A) and partner Niels Dejean (Tax).