PropertyGuru Chief Executive Officer Hari V. Krishnan. - The Star
SINGAPORE (Bloomberg): Singapore real estate startup PropertyGuru Pte has agreed to acquire all of the shares in REA Group Ltd.’s operating entities in Malaysia and Thailand, marking the biggest acquisition in its 14-year history.
PropertyGuru will take over iProperty.com.my and Brickz.my in Malaysia and thinkofliving.com and Prakard.com in Thailand from Australia’s REA Group, the Southeast Asian company said in a statement on Monday (May 31).
As part of the deal, REA, which is majority-owned by Rupert Murdoch’s News Corp. empire, will get an 18% equity interest in PropertyGuru and appoint a director to its board. No price has been disclosed for the deal.
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