Simpson Thacher represented funds advised by Apax Partners in the transaction, while Dentons advised the management of Idealista. Allen & Overy advised EQT.
Funds advised by Apax Partners entered into an agreement to sell idealista, the leading online real estate platform in Spain, Italy and Portugal, to the EQT IX fund (“EQT IX”) for a transaction value of €1.3 billion. The transaction remains subject to regulatory approvals.
Founded in 2000 and headquartered in Madrid, Spain, idealista supports approximately 40,000 real estate agents and 38 million unique monthly visitors across southern Europe by providing an online real estate classifieds marketplace for home buyers and sellers. The Company’s online platform and diversified portfolio of digital services, such as CRM tools, data analytics and online mortgage brokerage, help enable efficient real estate transactions, making it a key destination for prospective homeowners and sellers.
The Simpson Thacher team included Derek Baird (Picture), Lucy Gillett and James Campisi (M&A); Jacob Durkin and Sophie Davies (Credit); and Yash Rupal (Tax).
Dentons advised the management of Idealista with Partner Jesús Durán, Head of Dentons’ Private Equity practice in Spain, who led the deal with support from senior associate Jorge Carmona, associate Marina de Lara and junior associate María Clavell.
The A&O team was led by partners Inigo Del Val in Madrid and Karan Dinamani and Stephen Lloyd in London.
Involved fees earner: Inigo del Val – Allen & Overy; Karan Dinamani – Allen & Overy; Stephen Lloyd – Allen & Overy; Jorge Carmona – Dentons; Marina de Lara – Dentons; Jesús Durán – Dentons; Derek Baird – Simpson Thacher & Bartlett; James Campisi – Simpson Thacher & Bartlett; Sophie Davies – Simpson Thacher & Bartlett; Lucy Gillett – Simpson Thacher & Bartlett; Yash Rupal – Simpson Thacher & Bartlett;