SINGAPORE: 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 South-East Asian company said in a statement. 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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