Dentons has advised online Real Estate platform Idealista on its sale to Swedish global investment company EQT for €1.3 billion
EQT expects the acquisition of the Madrid-based platform, which is currently controlled by funds advised by Private Equity group Apax Partners.
Idealista is the leading Real Estate classified ads platform in southern Europe. The transaction is subject to administrative approval in several EU jurisdictions and is expected to close in the coming months.
Jesús Encinar, CEO at Idealista, said: “We are very excited to partner with EQT and look forward to working together during the coming years. EQT’s online classifieds and real estate expertise, local presence in Spain and Italy, and an extensive network of advisors will be of great value for us and key to our future success. Idealista and EQT share a similar culture and passion for growth, a key decision factor for me and my team to partner with them.”
Dentons advised Idealista with a transaction team led by Commercial and Private Equity head partner Jesus Durán (pictured), alongside Corporate senior associate Jorge Carmona, Corporate and Private Equity associate Marina de Lara and trainee María Clavell. Dentons worked closely with JB.M.F, as Tax advisers to the transaction, and Liberty CF, as Corporate Finance advisors.
“Despite the difficulties that 2020 has posed for M&A transactions, this is the second transaction over €1 billion in which we have participated in this year, which makes us very optimistic about 2021,” Jesús Durán said.
On the other hand, Allen & Overy has advised EQT Group with a team led by Íñigo del Val.