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Axel Springer To Pay €633M For SeLoger

German newspaper publisher, Axel Springer, will acquire

German newspaper publisher, Axel Springer, will acquire, Financial Times reports. The Berlin-based company will pay around €633 million for the French property-listing website.

Axel Springer had initially offered €566 million for the Paris-based company, which was rejected by its investors, including French billionaire, Bernard Arnault, who holds a 9% share. The revised offer will proceed if shareholders that own 50.01% of Seloger, including Axel Springer’s 12.4% stake, approve the deal, adds Bloomberg.

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