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Purplebricks Group completed the acquisition of DuProprio/ComFree for $36.4m.

Financials

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Transaction Value£29m
Consideration Type-
Capital Owned-
Capital Bid For100%
EV/Sales1.1x
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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online real estate services

Private

Acquisition

Canada

Real Estate Services

Completed

Single Bidder

Majority

Friendly

Synopsis

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Purplebricks Group, a British online estate agent, completed the acquisition of DuProprio/ComFree, which owns and operates a commission-free real estate services networks under two operational brands, DuProprio in French speaking Québec and ComFree in English, for $36.4m. "We are excited about working with DPCF's exceptionally strong management team to leverage the significant opportunities for growth in the Canadian market. Expanding the geographical footprint across Canada and building the company's buy-side offering provides the potential to transform the size of the DPCF business and consolidate its market leadership. This acquisition follows the £125m strategic investment by Axel Springer in Purplebricks for the aim of accelerating global growth. Through applying the appropriate funding and support we believe we can deliver real value enhancement for our shareholders," Michael Bruce, Purplebricks Global CEO.

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