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PropTiger Bags Housing in All-stock Deal

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PropTiger, buys online realty portal Housing in an all-stock deal. The combined entity will get a fresh capital infusion of $50 million from Australia’s REA Group, while Housing’s existing investor SoftBank will put $5 million, the companies said on Tuesday in a prepared statement.

The combined valuation of the two companies is $250 million, sources close to the development said, adding that Housing was valued at $70-80 million. The Rupert Murdoch-owned NewsCorp will now hold around 40% stake, including the REA Group ownership, in the new entity. Read more

 

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Sweekar S

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