Market Analysis

General Atlantic, alongside Canada's CPPIB, is reportedly preparing a 3 billion euro ($3.26 billion) bid to acquire Idealista, Spain's largest online real estate company, according to a report by Spanish newspaper Expansion citing anonymous sources familiar with the matter.

EQT, a Swedish private equity firm that has owned Idealista since 2020, has engaged Morgan Stanley to facilitate the sale of its stake. The deal aims to value Idealista at 2.5 billion euros, as per individuals briefed on the situation earlier this year by Reuters.

In 2020, EQT acquired a majority stake in Idealista from Apax Partners and management, valuing the company at approximately 1.3 billion euros.

Established in 2000, Idealista operates across Spain, Portugal, and Italy, offering real estate agents a platform to list properties in exchange for a recurring subscription fee. Additionally, it provides online advertising, mortgage brokerage, and data analytics services tailored for real estate professionals.

Paraphrasing text from "Reuters" all rights reserved by the original author.