REA Group builds $147m stake in PropertyGuru, completes 99 Group divestment

REA Group builds $147m stake in PropertyGuru, completes 99 Group divestment

Photo: PropertyGuru

REA Group, a digital advertising company that operates property websites in Asia and Europe, now owns a stake worth S$198.5 million ($147 million) in Southeast Asian online realty company PropertyGuru, according to ACRA filings accessed by DealStreetAsia.

This comes after PropertyGuru bought REA Group’s operating entities in Malaysia and Thailand, whose sites include iProperty.com.my and thinkofliving.com. As part of the transaction, REA Group had received an 18% equity interest in the Singapore-based firm on an undiluted basis.

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