May 17 (Reuters) - U.S. fund General Atlantic and
Canadian pension fund CPPIB are readying a 3 billion euro ($3.26
billion) offer to buy Spain's largest online real estate company
Idealista, Spanish newspaper Expansion reported on Friday,
citing unidentified market sources.
Swedish private equity fund EQT, which has
controlled Idealista since 2020, has hired investment bank
Morgan Stanley to sell its stake in a deal that would value the
portal at 2.5 billion euros, people familiar with the matter
told Reuters in February.
EQT bought a majority stake from Apax Partners and
management in 2020, in a deal that valued the company at about
1.3 billion euros.
Founded in 2000, Idealista operates in Spain, Portugal and
Italy, and allows real estate agents to advertise their
properties in exchange for a recurring subscription fee. It also
provides online advertising, mortgage brokerage and data
analytics services for real estate agents.
General Atlantic, CPPIB and EQT did not immediately respond
to messages seeking comment. An Idealista spokesperson declined
to comment.
($1 = 0.9202 euros)