Apax takes 17% of Idealista

 In Funds, News, Real Estate

Apax Partners has purchased 17% of the online property portal Idealista just two months after selling its majority share in the portal to the Swedish fund manager EQT.

The announcement of the €250 million deal was made on Thursday. Apax had sold its majority share in Idealista two months ago in an operation announced in September last year and completed in December 2020.
Then, the sale of its stake in the capital share of Idealista – the details of which were not revealed – to the Swedish fund manager EQT, valued the portal at €1.352 million.
Now, the value paid for the 17% capital share in Idealista is worth €1,470 million, less than the market value of the site after EQT had, in January, transferred the portal Casa.it, bought by Oakley Capital, to Idealista, which put the value of Idealista at €1.8 million.
In this operation, EQT sold 10% of its share in the Spanish property portal to Oakley Capital.
Idealista operates in the Spanish, Portuguese and Italian markets, with a total of 2.8 million listed properties and 38 million users per month.
“We are excited at having reinvested in Idealista after a rich experience working alongside the team led by Jesus Encinar (CEO of Idealista) since we made our investment in the company in 2015 and we hope to continue supporting its growth,” says Tony Hall, Partner at Apex, quoted by Eldiario.es.