Weekly Real Estate News
CoStar Group (NASDAQ: CSGP) has made a $1.69 billion all-cash offer to acquire Domain Holdings, the prominent Australian real estate marketplace companies.
Business News Australia reports Australia’s Foreign Investment Review Board (FIRB) would need to approve the deal. Domain is Australis’s second biggest real estate marketplace provider, trailing the News Corp (NASDAQ: NWSA) owned Realtor.com. If Domain approves CoStar’s bid, this will result in Australia’s two largest real estate classified providers being owned by American companies.
This marks CoStar’s first bid for an Australian company. In a statement, Domain’s board of directors said it is assessing the proposal, adding, “There is no certainty that the proposal will result in a transaction.” the group said in a statement to the ASX.
