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In a notable transaction within the real estate and private equity sectors, EQT AB has finalized an agreement to sell a majority stake in Idealista to private equity firm Cinven. The deal values the online real estate platform at €2.9 billion ($3.1 billion).
Cinven will acquire a 70% stake in Idealista, with EQT retaining an 18% holding in the business. This transaction also involves Apax Partners and Oakley Capital selling their stakes in Idealista. Notably, Jesus Encinar, the founder and chairman of Idealista, will maintain his stake and continue to helm the company alongside the existing management team.
Idealista operates prominently in Spain, Italy, and Portugal. This move is aligned with EQT’s strategic portfolio adjustments, allowing the firm to capitalize on Idealista’s significant market presence and continued growth potential in Southern Europe.
For more details, visit the source article on Bloomberg Law.
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