Australia’s largest real estate listings company, REA Group, has made its first overseas acquisition under chief executive Cameron McIntyre, spending $409 million to take a significant stake in Irish marketplace group Distilled.
REA revealed it would use its cash and debt to spend €248 million ($409 million) to buy a 35 per cent stake in Distilled, which owns Daft, Ireland’s top residential property portal, and PropertyPal, the biggest property portal in Northern Ireland, as well as the top automotive classified sites in both places.
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