transaction advice Immowelt


Deloitte Legal advises Rheinische Post Medien­gruppe and Münchener Zeitungs-Verlag (Verlags­gruppe Ippen) on the sale of their stakes in Immowelt Group to Axel Springer

A Deloitte Legal team led by Düsseldorf-based Corporate/M&A partner Dr. Michael von Rüden acted as advisors to the media companies Rheinische Post Mediengruppe and Münchener Zeitungs-Verlag (Verlagsgruppe Ippen) on the sale of their respective minority interests in Immowelt Group to Axel Springer. In the course of the transaction, the two founders of the company, who had already left the operational management of Immowelt last year, also transferred their shares. With the complete takeover and integration into the AVIV Group, a wholly-owned subsidiary of Axel Springer, Axel Springer intends to accelerate the growth of Immowelt and strengthen the cooperation between the real estate portals belonging to the group.

Dr. Michael von Rüden has worked regularly for both Rheinische Post Mediengruppe and Verlagsgruppe Ippen since 2012, and has already assisted both groups in various M&A transactions, including the merger of Immowelt and Immonet in 2015. Von Rüden and his team also advised Rheinische Post Mediengruppe on the acquisition of the Bonner General-Anzeiger and Saarbrücker Zeitung on the sale of the Lausitzer Rundschau to Märkisches Medienhaus GmbH & Co. KG.

Immowelt Group is one of the leading IT specialists for the real estate industry in the German-speaking region with headquarters in Nuremberg and around 600 employees at eight locations across Germany. Its core businesses are and, which are among the most visited real estate platforms in Germany, Austria and Switzerland. Special interest portals with a large reach such as and complement the portfolio. The second main business area is CRM software solutions for the real estate industry, which cover the entire spectrum of modern real estate marketing and are among the leading products in the industry.

Rheinische Post Mediengruppe is an internationally active publishing house with around 5,000 employees in Germany and abroad. Its main business areas include print and online media, newspaper printing and the production of radio and moving image contributions. Münchener Zeitungs-Verlag publishes the two major daily newspapers Münchner Merkur and tz and belongs to the publishing group of the Westphalian publisher Dirk Ippen.

AVIV Group was founded in 2018 by Axel Springer as a wholly-owned subsidiary and bundles the digital classified advertising business in the real estate, automotive and generalist sectors. These include Immowelt in Germany, SeLoger, Logic-Immo and Car&Boat Media in France, Immoweb in Belgium and Yad2 in Israel. This makes the AVIV Group one of the world's largest providers of classified advertising portals.

Advisors to Rheinische Post Mediengruppe and Münchener Zeitungs-Verlag:

Deloitte Legal: Dr. Michael von Rüden, LL.M. (USA) (Partner, Corporate | M&A, Düsseldorf, Lead), Dirk Hänisch, LL.M. (Hong Kong) (Partner, Corporate | M&A, Düsseldorf), Thilo Hoffmann, LL.M. (UoB) (Counsel, Corporate | M&A, Düsseldorf), Horst Heinzl, M.C.L. (HKU) (Senior Associate, Corporate | M&A, Düsseldorf), André Giesen, EMBA (Senior Associate, Corporate | M&A, Düsseldorf).  

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