Mydays Founder Considers ProSiebenSat.1 Adventure Unit Buyback Amid Competition
Potential Buyback and Market Dynamics
By Klaus Lauer and Cian Muenster
Background of Mydays and ProSiebenSat.1
FRANKFURT, June 18 (Reuters) - The founder of adventure experience business Mydays, now part of broadcaster ProSiebenSat.1, told Reuters he and co-investors are looking into buying back the unit, potentially pitting them against German entrepreneur Jochen Schweizer.
Founder’s Perspective
"We built mydays and know the market, the product and the platform like no other player. With our experienced team and a new approach to marketing and technology, we could make Mydays independent and successful once again," said Mydays founder Fabrice Schmidt.
Competing Interest from Jochen Schweizer
Schweizer, for his part, on Tuesday also told Reuters he is considering acquiring the business from ProSiebenSat.1, which is putting non-core assets up for sale after being taken over by Italy's MFE.
History of Ownership and Mergers
ProSiebenSat.1 in 2017 purchased a majority stake in Jochen Schweizer's namesake adventure experience business at an enterprise value of €108 million ($124 million), merging it with its Mydays unit.
Last year, ProSiebenSat.1 acquired the remaining 10.1% stake in the combined business that Schweizer had retained.
Future Prospects and Negotiations
Schmidt’s Plans and Potential Collaboration
Schmidt said he was primarily exploring a purchase of Mydays but added that he might also bid for the combined business, which sells vouchers for activities such as skydiving, travel and wellness treatments.
He added he may coordinate with Schweizer on an asset break-up, though they had not yet been in touch. Initial talks have been held with ProSiebenSat.1, said Schmidt.
Company Response
The broadcaster did not immediately respond to a request for comment.
Exchange Rate Information
($1 = 0.8715 euros)
Reporting Credits
(Reporting by Klaus Lauer, Writing by Ludwig Burger, Editing by Friederike Heine)
