Wegener sells interest in iLocal

Wegener, publisher of local newspapers De Gelderlander and BN/De Stem, among others, sells its interest in the company search engine iLocal to co-shareholder Yellow Bear. No acquisition amount has been released.

According to Wegener, the synergy that both parties originally envisaged with the collaboration has not been realized sufficiently. “The expectation was that there would be more exchange between the print department and iLocal, and that goal has not been achieved,” said Francijn Mekking, spokesperson for Wegener.

In 2006 Wegener bought 49 percent of the shares of iLocal Holding BV from Yellow Bear Holding BV. Wegener also took a minority interest of 17.5 percent in the company iLocal International BV, which would focus on international expansion. The acquisition amount was not disclosed at the time.

The big reorganization According to Mekking, Wegener is in full swing and there is already an agreement in outline. “We are currently working on its details, and the final reorganization plan will be submitted to the central works council this year,” says Mekking. According to Wegener, the sale of the interest in iLocal is separate from the reorganization.