EQT has announced the sale of its majority stake in idealista, a leading real estate platform operating in Spain, Portugal, and Italy, to Cinven at an enterprise valuation of EUR 2.9 billion. This transaction follows EQT’s initial 2020 purchase of idealista at a EUR 1.3 billion valuation. EQT will maintain an 18% share in the company, while Cinven will acquire 70%. Also participating are funds advised by Apax and Oakley, which are exiting their shareholdings. Jesus Encinar, the founder and Chairman of idealista, alongside the existing management team, will continue to lead the company. The deal underscores EQT’s satisfaction with idealista’s progress, with EQT expressing excitement for the company’s growth potential and commitment to stay invested. The transaction awaits customary conditions and regulatory approval before completion.
Real Estate, Private Equity,Spain, Portugal, Italy, Europe
https://news.cision.com/eqt/r/eqt-to-sell-majority-stake-in-real-estate-platform-idealista-in-eur-2-9-billion-transaction,c4008246