TX-Group establishes new business unit for real estate

Zurich-based TX Group will combine its real estate activities into an independent division at group level from the beginning of 2023. A separate fintech investment fund worth CHF 100 million will also be launched within TX Ventures.

TX GroupIn the future, the company, which is primarily responsible for its media brands such as Tages-Anzeiger or 20 minutes known TX Group to further develop its real estate in a separate, profit-oriented business unit. The new area will form an independent division at group level from the beginning of 2023, as the Zurich-based media group wrote on Tuesday ahead of an investor day.

The portfolio includes the three printing centers in Zurich, Berne and Bussigny, as well as four office buildings in attractive locations in Zurich and Berne. It offers sufficient potential for independent development, the statement added. Various options for the optimal ownership structure are still being examined.

Fintech investment fund with 100 million Swiss francs

Meanwhile, TX Ventures is launching its own fintech investment fund. This is designed for a target size of CHF 100 million. With the newly created fund, the venture arm of the group intends to continue its diversification. To this end, the geographical mandate will be expanded to Europe with a focus on the DACH region.

The capital of the new fund comes in part from previous sales of TX Ventures; Olmero, Star Ticket and Moneypark are explicitly mentioned in the announcement. Investments are to be made in new FinTech companies.

Margin targets for Tamedia, Goldbach and 20 Minuten

The TX Group also plans to publish new margin targets for the three segments Tamedia (paid media), 20 Minuten (free media) and Goldbach (advertising marketing). This is to take place by the 2023 annual results. The targets will be based on comparable companies, it is said.

For the fourth segment TX Markets, which includes in particular the marketplaces and classifieds platforms, the communication of the target size is still subject to the approval of the other shareholders due to the shareholding structure at SMG and JobCloud, the statement added. (SDA)

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