We provided tax-transaction advice for the largest digital media sale in 2017
CARPATHIAN Advisory Group in cooperation with its partner Mr. Peter Varga, attorney at law, acted as a tax and legal advisor to owners of the largest automotive advertising portal www.autobazar.eu and one of the biggest real-estate portals www.topreality.sk in connection with their sale to the international publishing house Ringier Axel Springer Media AG. Sales of participation interests, shares or businesses are generally associated with multiple tax issues. If the object of the sale is a digital asset, the issue is somewhat more complicated in view of the non-material nature of the object of the sale. Our role in this transaction was to assess from a tax and legal perspective the sales structure for both advertising portals.
Autobazar.eu is currently attending nearly 100,000 users a day, ranking it as number one among automotive portals for advertising. Topreality.sk is, in its segment, considered to be the second largest advertising portal with a total of 250,000 ads since 2005. Ringier Axel Springer Media AG, the buyer, is one of the most important media publishers in Central and Eastern Europe. “The goal of this transaction is to further enhance the profile of our portfolio as the leading digital publisher in Slovakia. Autobazar.eu, TopReality.sk fit perfectly into our portfolio and prove the consistency of our strategy, “said Milan Dubec, CEO Ringier Axel Springer Slovakia.
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