Norton Rose Fulbright advises Purplebricks on joint venture with Axel Springer

Global law firm Norton Rose Fulbright advised Purplebricks on the formation of a joint venture with Axel Springer and the joint acquisition, in a first step, of approximately 26 per cent of the shares in German online real estate broker Homeday, based in Berlin. Founded in 2014, the Homeday is an operator of a platform for providing real estate appraisals and brokerage services. Purplebricks is the leading online real estate agent listed on the London Stock Exchange with operations in the United Kingdom, Australia, the US, and Canada. Earlier this year, Axel Springer acquired a stake in Purplebricks.

The joint venture marks Purplebricks' entrance into the German market and is launched in connection with a Series B financing round at Homeday. The transaction is subject to approval by the cartel authorities 

Norton Rose Fulbright has previously advised Purplebricks on its IPO at the London Stock Exchange in 2015 and has acted for Purplebricks on several occasions . For the joint venture transaction with Axel Springer the Norton Rose Fulbright team was led by partner Frank Henkel (Munich) and senior associate Clementine Hogarth (London) (corporate/M&A). The team also included partner Dr. Katrin Stiess, of counsel Dr. Nicolas Daamen and senior associate Johannes Diez (corporate/M&A, Munich) as well as of counsel Dr. Tim Schaper (antitrust, Hamburg). The Norton Rose Fulbright team regularly advises on international joint ventures. Corporate partners Frank Henkel and Dr. Katrin Stieß – specializing in joint ventures – recently advised BMW on its global mobility joint venture with Daimler.

For further information please contact:

Stefanie Kerschke, PR & Communications Executive Germany
Tel: +49 89 212148 339; Mob: +49 174 34 528 72
stefanie.kerschke@nortonrosefulbright.com 

Notes for editors:

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