TX Group lifts SMG stake to 34.9% in $120M share purchase
What's the deal? TX GroupDealroom has a profile for this one. Try Dealroom → has increased its stake in SMG Swiss Marketplace GroupDealroom has a profile for this one. Try Dealroom → from 31.4% to 34.9%, buying 3,426,731 registered shares for roughly US$89.8M. The Swiss media company paid US$26.1 per share in an accelerated bookbuilding run by Schweizerische Mobiliar HoldingDealroom has a profile for this one. Try Dealroom →.
Who's involved? TX Group, founded in 1893 and listed on the Swiss stock exchange since 2000, runs the TamediaDealroom has a profile for this one. Try Dealroom → newspapers and 20 MinutenDealroom has a profile for this one. Try Dealroom → media platforms and holds stakes in DoodleDealroom has a profile for this one. Try Dealroom →, ZattooDealroom has a profile for this one. Try Dealroom →, and JobCloudDealroom has a profile for this one. Try Dealroom →. SMG operates online marketplace platforms and counts TX Group as an anchor shareholder.
Why the ceiling? The new stake sits just below the 35% opting-up threshold in SMG's articles of association, so the deal does not trigger a mandatory takeover offer. TX Group stopped short of that line while still deepening its position.
What's the rationale? TX Group framed the move as a vote of confidence in SMG's growth. "The purchase of these shares reflects our conviction in SMG's strategic positioning, the quality of its marketplace platforms as well as its long-term growth potential," said Daniel Mönch, chief portfolio and operations officer of TX Group.
Mönch added that SMG is "strongly placed to create lasting value for its shareholders" and to contribute to TX Group's results in the years ahead.
The signal: The purchase shows TX Group tilting further toward digital marketplaces as its journalism roots face pressure, consolidating around platforms with recurring revenue while carefully staying under the threshold that would force a full bid.
Read more: ad-hoc-news.de
Image credit: Generated with Gemini
