(Adds details on deal, background)
May 28 (Reuters) - Domain Holdings Australia (DHG) said on Friday it would join a consortium looking to acquire a 10% stake in online real estate platform PEXA's holding company, without naming who it was partnering with.
This comes a day after PEXA's top shareholder Link Administration Holdings Ltd (LNK) said private-equity giant KKR & Co KKR.N had offered to buy PEXA in an over A$3 billion ($2.32 billion) deal and was expecting to team up with Domain.
Shareholder registry firm Link has been evaluating a trade sale or an initial public offering for PEXA, which has seen rapid growth due to a booming Australian property market, and had set June as a deadline for bidders.
Property classifieds operator Domain said it was mulling acquiring a stake in Torrens Group Holdings, owned 44.2% by Link, and rest by Morgan Stanley Infrastructure Partners MS.N and Commonwealth Bank of Australia (CBA) .
Link did not immediately respond to a Reuters request for comment.
($1 = 1.2915 Australian dollars)
News: CBA UPDATE 1-Australia's Domain joins a group bidding for real estate firm PEXA
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Last
$169.83 |
Change
0.750(0.44%) |
Mkt cap ! $284.2B | |||
| Open | High | Low | Value | Volume |
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|---|---|---|
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