REA to Pay US$282 Million for Stake in Irish Marketplace Operator
By Stuart Condie
SYDNEY--Australian real-estate advertiser REA Group agreed to pay about US$282 million for a 35% stake in the operator of leading marketplace portals across Ireland and Northern Ireland.
News Corp-controlled REA on Tuesday said it would pay 248 million euros for the minority holding in Distilled, which operates portals including Ireland's Daft.ie and Northern Ireland's PropertyPal.
REA said it will fund the acquisition from debt and existing cash reserves. It expects to complete the transaction by the end of December and for the holding to be modestly accretive to core earnings per share in the first year of ownership.
Distilled Chief Executive and cofounder Eamonn Fallon will continue to lead the business and to remain a meaningful shareholder, REA added.
"The investment provides immediate exposure to an exceptional business with a strong growth trajectory and a portfolio of high-growth assets," REA Chief Executive Cameron McIntyre said.
Dublin-based Distilled also operates automotive and general classifieds portals.
News Corp is the parent company of Dow Jones & Co., publisher of The Wall Street Journal and Dow Jones Newswires.
Write to Stuart Condie at stuart.condie@wsj.com
(END) Dow Jones Newswires
September 28, 2026 19:29 ET (23:29 GMT)
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