Global law firm Dentons has served as lead legal counsel to Idealista on Cinven’s acquisition of Idealista from its current owners including EQT, Apax and Oakley. The value of the transaction was €2.9 billion. EQT will reinvest part of the sale proceeds and thus retain an 18% stake in Idealista. The transaction represents Spain’s largest ever technology sector acquisition. The transaction is expected to close in the second half of 2024 pending clearances from the competition authorities.
Headquartered in Madrid, Idealista is the leading online real estate classifieds platform in Southern Europe, and operates in Spain, Portugal and Italy. Cinven is a UK-based global private equity house. EQT is a Swedish-headquartered global private equity house.
Madrid-based Corporate and M&A/Private Equity partner Jesus Duran led Dentons’ legal team on the deal, with support from Counsel Jorge Carmona.
This is the second major transaction on which Dentons has supported Idealista. The team also advised Idealista when it was acquired by EQT for €1.3 billion in 2020.