Tuca Zbarcea si Asociatii and Schoenherr in the sale of Imobiliare.ro to Ringier

Potentially the largest online transaction to date was announced at the end of March 2016, Swiss group Ringier buying the majority stake in real estate portal Imobiliare.ro. The transaction value was not officially announced but is being estimated to exceed 15 million euro according to market sources.

Ringier Romania bought the 87% stake in Realmedia Network from shareholders Broadhurst Investments Limited, Kurt Götz and the management of Imobiliare.ro. The current management team still holds a minority stake and will continue to operate the company.

"Imobiliare.ro acquisition is a step forward in our efforts to transform and systematically digitize our business in all the markets we serve, including Eastern Europe. Thanks to this transaction, Ringier now holds both the No. 1 online recruitment portal in Romania and the largest real estate portal in the country, "said Marc Walder, CEO of Ringier AG.

The buyer was assisted in the transaction by a team of lawyers from Tuca Zbârcea & Asociaţii coordinated by partner Dragos Apostol.

The seller was advised by Austrian firm Schoenherr through a team lead by partner Madalina Neagu, coordinator of mergers and acquisitions practice in the local office.