EQT sells majority stake in real estate platform Idealista

Investment firm EQT announced on Friday its agreement to sell a majority stake in the real estate platform Idealista to Cinven. The transaction values Idealista at EUR 2.9 billion.

EQT, which acquired Idealista in 2020 for EUR 1.3 billion, will retain an 18 percent share in the company following the sale. Cinven will acquire a 70 percent stake.

Idealista is described as the leading real estate platform in Spain, Italy, and Portugal. The company has reportedly strengthened its market position and implemented digital and sustainability initiatives over the past four years.

Jesús Encinar, founder and Chairman of Idealista, will continue to lead the company with the existing management team and will retain his stake. The transaction is subject to customary closing conditions and regulatory approvals.