Melbourne based real estate advertising company REA Group Ltd has entered into a binding agreement to acquire a controlling interest in Elara Technologies Pte. Ltd. owner of Housing.com, PropTiger.com and Makaan.com.
Australia-based REA Group Ltd will hike its stake to take controlling interest in Elara Technologies, which owns three leading realty portals in India including Housing.com, in a cash and equity deal estimated up to $70 million.
INDUSLAW advised Elara, the Singapore-based company engaged in digital real estate services owning Indian entities PropTiger.com, Makaan.com and Housing.com, which are digital real estate services platforms. The Indus team was led partners Saurav Kumar, Harman Walia, and associates Aadhya R Chauhan and Surya Vasu.
The Trilegal team acting for the buyer REA as local counsel included partner Charandeep Kaur, and lawyers Prashant Shah and Shringarika Priyadarshini.
Desai & Diwanji partner Sonal Rangnekar and associate partner Farida Dholkawala acted for Xponentia.
Quillon Partners acted for CX Partners with partner Gautam Bhat and principal associate Khusnuma Nagwaswalla.
Australian international firm King & Wood Mallesons fielded a team of partner Jake Robson, Nick Davies (special counsel) and senior associate Caitlin Sharp.
Deal value: Confidential
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