{"id":58340,"date":"2023-09-08T03:24:49","date_gmt":"2023-09-08T07:24:49","guid":{"rendered":"https:\/\/ifintechworld.com\/uncategorized\/exclusive-stroeer-considers-options-for-2024-sale-of-data-business-statista-sources\/"},"modified":"2023-09-08T03:24:52","modified_gmt":"2023-09-08T07:24:52","slug":"exclusive-stroeer-considers-options-for-2024-sale-of-data-business-statista-sources","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=58340","title":{"rendered":"Exclusive-Stroeer considers options for 2024 sale of data business Statista -sources"},"content":{"rendered":"
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\u00a9 Reuters. <\/span>
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By Emma-Victoria Farr and Amy-Jo Crowley<\/p>\n

FRANKFURT\/LONDON (Reuters) -German advertising group Stroeer is considering possible options for the sale of Statista in 2024, in a process which could value the data gathering business at up to 1.5 billion euros ($1.6 billion), four sources familiar with the matter said.<\/p>\n

Private equity firms are looking at Statista ahead of a formal sale process, which is likely to kick off later next year, the sources told Reuters. <\/p>\n

Another option could be to list Statista on the NASDAQ exchange in the US, one of the sources said. <\/p>\n

Stroeer is working with JP Morgan on strategic options for the business, two of the sources said, speaking on condition of anonymity. <\/p>\n

JPMorgan declined to comment. <\/p>\n

Stroeer shares spiked to a session high after the news, rising as much as 4.6% and were on track for their biggest daily jump since January.<\/p>\n

Deliberations are at an early stage and the timing of any sales process is dependent on an improvement in market conditions and therefore may not materialise, one source said.<\/p>\n

Statista’s trading performance has fluctuated over the last year, another source said. <\/p>\n

Statista CEO Friedrich Schwandt, said in July 2022 that the firm was expecting to grow by 20-30% annually in the medium term, anticipating sales of around 250 million euros ($268 million) by 2025, in its latest available results. <\/p>\n

Stroeer is preparing vendor due diligence together with JP Morgan for its consumer asset Asam Beauty, with a sale to begin in Q4, a company spokesperson said. Only once this transaction is finished will a Statista process begin, they added.<\/p>\n

Stroeer said in its latest results that it was starting a divestment process for Asam, which “will create significant value for shareholders and underscore the value of our core business,” according to Stroeer co-CEO Christian Schmalzl. <\/p>\n

Asam sits alongside Statista in Stroeer’s data-as-a-service and e-commerce division, which it has signalled as non-core to its advertising business. <\/p>\n

Statista is viewed as non-core because the rest of Stroeer operates out-of-home advertising, online advertising and billboards across Germany. A sale would allow Stroeer to take advantage of high multiples in the sector, the sources said.<\/p>\n

Stroeer acquired a 78.8% majority stake in Statista in December 2015 for around 57 million euros ($61 million). <\/p>\n

The remaining stake in the Hamburg-based data and business intelligence portal was held by its founders, until Stroeer bought them out to become sole shareholder in May 2019.<\/p>\n

($1 = 0.9326 euros)<\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a9 Reuters. By Emma-Victoria Farr and Amy-Jo Crowley FRANKFURT\/LONDON (Reuters) -German advertising group Stroeer is considering possible options for the sale of Statista in 2024, in a process which could value the data gathering business at up to 1.5 billion euros ($1.6 billion), four sources familiar with the matter said. Private equity firms are looking […]<\/p>\n","protected":false},"author":1,"featured_media":3590,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[1],"tags":[83],"class_list":["post-58340","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-uncategorized","tag-featured","post_format-post-format-video"],"yoast_head":"\nExclusive-Stroeer considers options for 2024 sale of data business Statista -sources | iFintechWorld<\/title>\n<meta name=\"description\" content=\"\u00a9 Reuters. 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