Purplebricks, a real estate giant based out of England, is planning on announcing that the company will be taking a stake in a German online agency, which will be Purplebricks' first major venture in Europe's mainland. Homeday offers free home appraisals by expert brokers to help German sellers begin the process of selling their homes off on a good note.
"We believe that good brokerage does not have to be expensive. As one of the leading brokerage companies in Germany, we, therefore, accompany sellers and buyers with heart, mind and technical know-how: from the first contact to the key handover. In this way, we make real estate sales a good and successful business for everyone involved."
Unnamed sources say that the deal was likely to be structured as a 50-50 partnership between Purplebricks and Axel Springer, which is already a big investor in the British property group.
The transaction will see the two companies invest a total of €25m to purchase a 26 percent stake in Homeday, which has a 50 percent share of the German online estate agency market.
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