Big Xing Stake Snapped Up By Burda Media

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Courtesy WebProNews - Financial  Wed, 11/18/2009 - 13:08

A major change has taken place behind the scenes at Xing, the business networking company based in Hamburg, Germany.  Burda Media is now the primary shareholder due to a transaction that saw it purchase a lot of stock from Cinco Capital GmbH.

Burda bought a whopping 1,323,041 shares for €36.50 each (which works out to about $72.3 million).  It controls a 25.1 percent stake in Xing as a result.  This wasn't any sort of hostile takeover, though.

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