ProSiebenSat.1 Media has sold its Verivox business and become the sole owner of NuCom Group and ParshipMeet Group as it simplifies its group structure and continues to refocus on its core entertainment business.
Moltiply Group is acquiring Verivox at an enterprise value of €232 million. ProSiebenSat.1 could receive an additional €43 million if certain targets are met in 2025. The Verivox sale and the expected cash inflows from the sale of two minority stakes from the SevenVentures portfolio will reduce ProSiebenSat.1’s net debt by more than €250 million.
Verivox is part of the NuCom Group subsidiary and will now be integrated with Moltiply’s Mavriq division for online comparison and brokerage services in Italy, Spain, France, the Netherlands and Mexico. ProSiebenSat.1 will become sole owner of NuCom Group (excluding flaconi) and ParshipMeet Group, buying out General Atlantic’s interest for a mix of cash and shares. ProSiebenSat.1 plans to offload online beauty retailer flaconi, in which it owns a 71.6 percent stake.
Bert Habets, group CEO of ProSiebenSat.1 Media, noted, “Today’s announcements mark an important step toward delivering our strategic goal: to focus on our core entertainment business. Selling Verivox has been a number one priority for us. Our broader agreement with General Atlantic will provide us with full flexibility and control over the planned divestments of other non-core assets, including flaconi. Together with General Atlantic, we have developed our Commerce & Ventures segment into a €1 billion revenue business and ParshipMeet Group into a leading global player in the dating segment.”
