REA Group Ltd (AU:REA) has released an update.
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REA Group Ltd announces its decision to sell its 17.2% stake in PropertyGuru Group Limited to affiliates of BPEA Private Equity Fund VIII Ltd at US$6.70 per share, valuing PropertyGuru at about US$1.1 billion. The sale, part of a strategic divestiture after other major shareholders sought to liquidate their holdings, is expected to net REA approximately A$286 million, marking a significant non-core gain. The completion of the deal hinges on shareholder and regulatory approvals, with an expected closure in the second or third quarter of FY25.
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