TX Group, Ringier, La Mobilière and General Atlantic form joint venture to create leading digital marketplace group
1 September 2021 – The merger of TX Markets and Scout24 Schweiz’s online marketplaces will form a leading Swiss group spanning the real estate, vehicle, financial services and general marketplace sectors. The TX Group will bring the TX Markets platforms Ricardo, tutti.ch, Homegate and Car For You to the new joint venture. Ringier and La Mobilière will provide the Scout24 Schweiz Group, which operates the platforms ImmoScout24, AutoScout24, MotoScout24, FinanceScout24 and anibis.ch. General Atlantic, a leading global growth equity investor, will serve as the fourth partner in the venture, supporting the group with its many years of international expertise in the field of digital marketplaces. The joint venture will create one of the largest digital companies in Switzerland. TX Group AG will hold a 31% interest in the new joint venture; Ringier AG and La Mobilière will each hold a 29.5% share, and growth equity investor General Atlantic will have a 10% interest. The four shareholders will each have 25% of voting rights. The independent group will pursue the medium-term goal of going public.
Walder Wyss AG acted as legal counsel to TX Group AG. The team has been co-led by Markus Vischer (Partner, Corporate/M&A) and Urs P. Gnos (Partner, Corporate/M&A) and further included Lukas Wyss (Partner, Finance), Reto Jacobs (Partner, Competition), Monique Sturny (Partner, Competition), Dimitrios Berger (Senior Associate, Corporate / M&A), Dzevrije Zendeli (Senior Associate, Corporate /M&A), Christoph Stutz (Counsel, Employment), Claudia Weber (Senior Asscociate, Corporate /M&A), Timon Nydegger (Associate, Corporate /M&A), Alice Vorburger (Associate, Corporate /M&A), Riccardo Brazerol (Associate, Corporate /M&A), Chiara Wirz (Associate, Emplyoment), Hugh Reeves (Senior Associate, RCTI) und Aurélien Bill (Associate, RCTI).