Australia's Domain joins a group bidding for real estate firm PEXA (updated)
28/05/2021 24:22
(Adds details on deal, background)
May 28 (Reuters) - Domain Holdings Australia DHG.AX said
on Friday it would join a consortium looking to acquire a 10%
stake in online real estate platform PEXA's holding company,
without naming who it was partnering with.
This comes a day after PEXA's top shareholder Link
Administration Holdings Ltd LNK.AX said private-equity giant
KKR & Co KKR.N had offered to buy PEXA in an over A$3 billion
($2.32 billion) deal and was expecting to team up with Domain.
urn:newsml:reuters.com:*:nL3N2NE2QD
Shareholder registry firm Link has been evaluating a trade
sale or an initial public offering for PEXA, which has seen
rapid growth due to a booming Australian property market, and
had set June as a deadline for bidders.
Property classifieds operator Domain said it was mulling
acquiring a stake in Torrens Group Holdings, owned 44.2% by
Link, and rest by Morgan Stanley Infrastructure Partners MS.N
and Commonwealth Bank of Australia CBA.AX .
Link did not immediately respond to a Reuters request for
comment.
($1 = 1.2915 Australian dollars)
(Reporting by Anushka Trivedi in Bengaluru; Editing by Shinjini
Ganguli)
((Anushka.Trivedi@thomsonreuters.com; +918061823241;))