Bloomberg has reported that a $4.5 billion loan is being drawn up to finance the buyout of European online classifieds operator, Adevinta.
Goldman Sachs and Apollo Global Management Inc. are working with a group of four other companies—including U.S. lenders Sixth Street, HPS Investment Partners and ICG Capital—to prepare the loan that will reportedly be used by the Permira and Blackstone consortium to buy out Adevinta.
Bloomberg noted that the deal would be Europe's largest-ever direct lending deal.
The Adevinta takeover story, which became public in September, represents what appears to be the first step of an influx of American investment in the multi-trillion European real estate industry.
Europe's online classifieds industry is looking increasingly attractive for U.S. companies. Should the takeover go ahead it would represent the second large deal made for U.S. money to take over European portals in a short space of time.
Breaking news today confirmed that US-based CoStar is set to acquire British number three portal OnTheMarket for a reported $100M—a matter of weeks after CEO Andy Florance told the Property Portal Watch conference that he was eyeing up an overly fragmented European market.
This week's product roundup includes another great initiative from Domclick—the second in consecutive weeks. And interestingly, we've spotted three big...
Read More
US number two portal Realtor.com has announced a new marketing campaign that will champion the value and skills of independent...
Read More
Singapore is well known for its obsession with property and the market dynamics there are pretty unique... There can't...
Read More
U.K. hybrid agency Strike, which acquired (and subsequently rebranded as) Purplebricks last year, recorded operating losses of $23.5M according to...
Read More
