EQT IX fund, managed by EQT, has sold its majority stake in idealista.
The transaction values idealista, which is the leading real estate platform in Spain, Italy, and Portugal, at €2.9 billion ($3.1 billion).
Cinven has signed an agreement to acquire a 70 percent stake in the Company. EQT originally acquired idealista in 2020 in a deal that valued the firm at €1.3 billion ($1.4 billion) and will retain an 18 percent share in the company following the transaction.
“Over the past four years idealista has entrenched its leading position in the Spanish and Portuguese market and strengthened its presence in Italy, all while implementing new digital and sustainability initiatives that create a foundation for further growth. We believe strongly in idealista’s future potential and are excited to remain invested,” said Bert Janssens, partner and head of the private equity Europe advisory team.
Jesus Encinar, founder and chairman of idealista, will conti
