EQT has sold its majority stake in Idealista while retaining an 18% share, allowing Apax and Oakley to exit their stakes in a strategic move within the evolving real estate market.
Information on the Target
Idealista, founded in 2000, is a leading real estate platform operating in Spain, Portugal, and Italy. It provides a comprehensive service for real estate agents, allowing them to advertise properties in exchange for a subscription fee. In addition to listings, Idealista offers online advertising, mortgage brokerage, and data analytics services that enhance the effectiveness of real estate transactions for its clients.
The company's innovative approach and user-friendly platform have positioned it as a trusted partner for many real estate professionals, contributing to significant growth over the years. The founders, Jesus Encinar and Cesar Oteiza, continue to be integral to its success by retaining their stakes and leading the organization amidst ongoing developments in the industry.
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Industry Overview in Spain
The real estate industry in Spain has undergone notable transformations in recent years, characterized by a shift toward digital solutions and online property listings. As
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EQT
invested in
Idealista
in 2023
in a Buyout deal
Disclosed details
Transaction Size: $1,372M