REA Group and parent company News Corp are reportedly paying $70m for a controlling stake in online real estate portal and portolio company Elara Group.
Digital media and advertising group REA has agreed to pay $70m for a controlling stake in one of its portfolio companies, India-based online property marketplace operator Elara Group, Business Standard has reported.
News Corp, the media group that is REA’s majority owner, will invest $34.5m in Elara as part of the deal, increasing its stake from 22.1% to 38.9%. REA’s share will go from 13.5% to between 47.2% and 61.1%, and the deal will consist of a mixture of cash…
