GESSEL advised Alterium Holding Sp. z o.o., the minority shareholder of MZN Property S.A., on the transaction as a result of which Ringier Axel Springer Media AG issued a call for subscriptions for sale of 100% of the shares in MZN Property S.A.

The tender by Ringer Axel Springer Media AG (RASM) for purchase of shares in MZN Property will be part of a larger transaction as a result of which RASM will also purchase 100% of the shares in Sp. z o.o., owner of the internet portal.

GESSEL assisted in preparation of the transaction documentation and of the documentation pertaining to the management contracts as well as advising on the capital markets aspect of the deal.

The team led by Michał Bochowicz, managing associate comprised the senior associates Julia Trzmielewska, Weronika Zdeb, and Krzysztof Jasiński, with overall supervision by Małgorzata Badowska, partner.

Ringier Axel Springer Media AG is a leading publisher in the digital market, with a portfolio of more than 200 digital and print titles in Poland, Hungary, Slovakia, Serbia, Estonia, Lithuania, and Latvia and a 3,000-strong European workforce.

MZN Property manages a technological and financial platform for searching out, financing and execution of real estate transactions. Its comprehensive offering of fintech solutions for the real estate market includes, among others, and FinPack, software for comparing mortgage and credit products. Sp. z o.o. is the operator of one of Poland’s most popular classified ads portals bringing together sellers and buyers from the private as well as business spheres. Its monthly statistics for 2019 speak of an average of 760,000 offers and 2.8 mln visitors.