Inspired by Auto1? MeinAuto changes legal form, becomes AG
No time right now?
Mobility Holding GmbH, operator of MeinAuto.de, uses the awareness of its most important brand, changes its name to MeinAuto Group and becomes a stock corporation. IPO ante portas?
The timing surprises the inexperienced observer. The online car dealer Auto1 has barely made a brilliant stock market debut than the online car dealer MeinAuto.de becomes a stock corporation. However, this does not mean that one is aiming for an IPO, the company lets the media know. Rather, it is said that no resolutions have yet been taken. A denial looks different. And nobody will want to deny the company’s potential.
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This is MeinAuto and Mobility Holding
MeinAuto.de sees itself from the inside according to their own information around 25 million visits last year as Germany’s number 1 in online new car sales. The online new car platform is only the part of the former Mobility Holding GmbH that is best known to end customers.
In addition to MeinAuto.de, the company, which is owned by the British financial investor Hg and managed by ex-Sixt Leasing boss Rudolf Rizzoli, also operates the online platform ass-team.net (Athletic Sport Sponsoring), a provider of car subscriptions especially for athletes and the B2B full-service leasing provider Mobility Concept. Mobility Concept is the former fleet subsidiary of Hypo-Vereinsbank and has been part of the MeinAuto operator founded in 2007 since 2018.
IPO rumors are not new
Reuters had already over on January 20, 2021 an upcoming IPO reported at MeinAuto. Based on well-informed sources, an IPO should be planned for the first half of 2021. The desired valuation should be between 1.3 and 1.4 billion euros.
As Bloomberg reports, MeinAuto owner Hg, who bought the company from Unicredit Leasing in 2018, is to work with Bank of America and the investment bankers of the Jefferies Group for the proposed listing on the Frankfurt Stock Exchange.
The most important difference between Auto1 and MeinAuto: MeinAuto only offers new cars, while Auto1 focuses on used cars.
