Freshfields, RPC and Bird & Bird act on Daily Mail's sell-off of Jobsite to StepStone
Freshfields Bruckhaus Deringer, RPC and Bird & Bird have acted on the sale of the Daily Mail and General Trust's (DMGT) jobs website to StepStone.
May 23, 2014 at 08:09 AM
2 minute read
Freshfields Bruckhaus Deringer, RPC and Bird & Bird have acted on the sale of the Daily Mail and General Trust's (DMGT's) jobs website to StepStone.
RPC advised long-standing client DGM Media – the consumer media arm of DMGT – on the deal. The team was led by head of corporate Tim Anderson.
Freshfields advised the Axel Springer publishing group, which owns online jobs board StepStone, on corporate matters. London co-head of M&A Ben Spiers (pictured) led the team.
Bird & Bird also acted for Axel Springer on the technology side.
The sale of the Jobsite platform is the final part of DMG Media's disposal of its Evenbase brand – a digital recruitment group. The aggregate consideration for the Evenbase sale is expected to be £150m.
Completion of this latest transaction is subject to approval by the Competition and Markets Authority.
Commenting on the deal Anderson said: "We managed to complete the disposal of Evenbase in just under three months reflecting increased market confidence that seemed to begin at the start of 2014. This deal represents a turning point for DMGT as it exits the digital recruitment market."
The other Evenbase businesses sold earlier this year were OilCareers, Broadbean and Jobrapido.
The Jobsite sale comes as DMGT announced its plan to list property search website, Zoopla on the London Stock Exchange in June.
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