Australia's REA Group Ltd acquired the 17.2 percent interest. The selling price amounts to around 106 million AUD/ 75 million EUR (3.40 AUD per share).
SeLoger said that it decided to sell its interest in iProperty because it was not possible to gain a strategic majority, and also because it wanted to focus more on the European market in the future. With the investment in iProperty in 2011, SeLoger benefited from the growth in the Southeast-Asian countries and the development of their classifieds segment. With the divestment SeLoger realizes a profit of around 55 million EUR.
The Australian listed iProperty Group operates property portals in Malaysia, Hong Kong, Indonesia, Singapore, Macau and has investments in India and the Philippines.