Silver Lake to buy Zoopla and PrimeLocation for $3 billion

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May 11, 2018 #A..., #Company News, #Content produced in Bangalore, #Deals, #Europe, #Investment Trusts (TRBC), #Lake, #m..., #Major News, #Mergers / Acquisitions / Takeovers, #Private Equity Funds, #Real Estate (Legacy), #Real Estate (TRBC), #Real Estate Markets, #silver, #United Kingdom, #united states, #US, #Volatile Shares / Hot Stocks, #Western Europe, #ZPG

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(Reuters) – Silver Lake Management Company has agreed to acquire ZPG plc (ZPG.L), the owner of British property websites Zoopla and PrimeLocation, for 2.2 billion pounds ($3 billion).

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General view of Zoopla branding
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Under the terms of the deal, each ZPG shareholder would get 490 pence in cash, which implies a premium of 43 percent to ZPG’s Thursday close, U.S.-based private equity firm Silver Lake said in a statement on Friday.

Reporting by Rahul B in Bengaluru; Editing by Alexander Smith

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