15.08.2014
United Internet AG DE0005089031
DGAP-Adhoc: United Internet announces strategic investment in Rocket Internet
United Internet AG / Key word(s): Investment
15.08.2014 19:02
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
---------------------------------------------------------------------------
Montabaur, August 15, 2014. United Internet AG ("United Internet") is
investing - via its subsidiary United Internet Ventures AG - a total of EUR
435 million for a 10.7% stake in the company Rocket Internet AG, Berlin
("Rocket"). The investment will cement the long term strategic relationship
between United Internet and Oliver Samwer, Rocket's Chief Executive Officer
and co-founder.
United Internet's investment consists of EUR 333 million in cash, and EUR
102 million represented by United Internet's equity participation in the
portfolio of the Global Founders Capital funds ("Global Founders Capital").
Global Founders Capital is a portfolio of over 50 venture capital
investments held jointly by United Internet and Global Founders Fund GmbH
("Global Founders Fund", formerly European Founders Fund GmbH), the
personal investment vehicle of Oliver Samwer and his brothers. The
portfolio includes minority stakes in companies such as games maker
Goodgame Studios; online travel sites such as Traveloka and Travelbird;
online marketplaces Yemek Sepeti and DaWanda; and financial technology
companies Kreditech, Borro and SocietyOne.
United Internet has been successfully investing in consumer Internet and
technology businesses together with the Samwer brothers through Global
Founders Capital since 2007.
United Internet's investment will be in newly issued shares by Rocket, of
the same class and bearing the same rights as shares held by current Rocket
investors. Ralph Dommermuth, CEO of United Internet, will become a member
of Rocket's nine-person Supervisory Board.
Rocket Internet identifies and builds proven internet business models and
transfers them to new, underserved or untapped markets where it seeks to
scale them into market leading online companies. It aims to become the
world's largest Internet platform outside of China and the United States.
Rocket is focused on online business models that satisfy basic consumer
needs across three sectors: e-Commerce, marketplaces and financial
technology.
Rocket started in 2007 and now has more than 20,000 employees across its
network of companies, which operate in more than 100 countries on five
continents. The company's target markets are located mainly in the emerging
markets of Latin America, the Middle East, Africa and Asia, as well as in
Russia. These markets are generally characterized by fast-growing
smartphone penetration, younger populations then developed markets, newly
evolving middle classes, and limited access to physical retail
infrastructure.
Following this investment, in addition to United Internet (10.7%), shares
in Rocket Internet will be held by Investment AB Kinnevik (18.5%), Access
Industries (8.5%), Philippine Long Distance Telephone Company (8.6%) and
the Global Founders Fund (53.7%).
By contributing its shares in the investment funds to Rocket Internet,
United Internet will recognize one-off, non-cash income of around EUR 70
million this year.
Contact
Maika-Alexander Stangenberg
Head of Corporate Communications & Public Affairs
United Internet AG
Elgendorfer Strasse 57
56410 Montabaur
Germany
Tel: +49 2602/96-1076
Fax: +49 2602/96-1013
E-mail: [email protected]
Internet: www.united-internet.de
15.08.2014 The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
---------------------------------------------------------------------------
Language: English
Company: United Internet AG
Elgendorfer Straße 57
56410 Montabaur
Germany
Phone: +49 (0)2602 / 96 - 1100
Fax: +49 (0)2602 / 96 - 1013
E-mail: [email protected]
Internet: www.united-internet.de
ISIN: DE0005089031
WKN: 508903
Indices: TecDAX
Listed: Regulierter Markt in Berlin, Frankfurt (Prime Standard);
Freiverkehr in Düsseldorf, Hamburg, Hannover, München,
Stuttgart
End of Announcement DGAP News-Service
---------------------------------------------------------------------------
|
Weitere Ad-hoc und Unternehmensrelevante Mitteilungen zu
United Internet AG ISIN: DE0005089031 können Sie bei EQS abrufen
Telekomdienstleistungen , 508903 , UTDI , XETR:UTDI