General Atlantic Preparing €3 Billion Bid for Idealista

May 17, 2024
Share this Post: 

Reports in Spanish publication Expansión suggest that General Atlantic (GA) is preparing a bid worth three billion euros for the European portal operator Idealista.

Idealista has been unofficially up for sale for at least 12 months, but the company has recently taken active steps to consolidate its debts in preparation for a potential buyout offer.

The portal, a market leader in Spain and Portugal and a highly competitive force in Italy, was purchased for €1.3 billion by EQT and other investors in 2020, and four years later it appears to have more than doubled in value, with Expansión claiming that GA is willing to pay up to three billion for Idealista—valuing the business at between 20-22 times EBITDA.

The bid is likely to come from a consortium consisting of GA and the Canada Pension Plan Investment Board, with Morgan Stanley also involved in coordinating a potential deal.

Idealista Assets

Previous reporting implied that four private equity firms were preparing bids, namely from the USA and Canada.

Meanwhile, el Economista has suggested that CVC and Silver Lake may also be interested in the bidding war while German publicly-listed company ImmoScout was also named as a potential bidder.

Should GA indeed go after Idealista, it will reflect a trend of American money coming into European marketplaces and particularly real estate. Compatriot portal giant CoStar has already invested $100 million in OnTheMarket in the UK with promises of more acquisitions, while the Permira and Blackstone consortium is in the closing stages of a $13 billion takeover of marketplace giant Adevinta.

Our most recent coverage of Idealista shows that the portal recently teamed up with Tecnocasa in Italy.

May 17, 2024
Harvey is an experienced property journalist and copywriter. He has written about the property industry since 2015, starting at The Property Franchise Group in the UK, before moving to Spain to work for Spotahome. He has blogged for the private rented sector, ghostwritten for UK property experts and written case studies for franchise owners around the UK. Harvey joined Online Marketplaces as a News Editor in 2022.

Subscribe to our mailing list to get the famous, free Friday newsletter!

News and analysis to help build better online marketplace businesses, in your inbox, every Friday

Related News

Dutch Houses Netherlands
Mediahuis Shuts Dutch Portal Jaap Citing Fierce Competition

The Dutch real estate portal Jaap quietly shut down earlier this year after seeing its profits evaporate in the face...

Read More
Costar Vs Zillow Cowboys
CoStar's May Not Need to Win Traffic Game to Out-Earn Zillow

It might be growing fast (and shouting about it) but CoStar-owned US  challenger real estate portal is still a...

Read More
Untitled Design 10 1
Schibsted Successfully Detaches Media Business, Leaving Standalone Marketplaces Segment

The Norwegian media and marketplace operator Schibsted has had a busy month, with transactions worth approximately NOK 50 billion ($4.7...

Read More
Idealista Cinven
Private Equity Firm Cinven Takes the Lead in €3Bn Idealista Tug-Of-War

London-based, private equity firm Cinven has reportedly signed an exclusivity agreement to acquire Idealista for an estimated €3 billion. The...

Read More

Editor's Pick