REA sells HK business to iProperty, strengthens shareholder grip
14 Oct 2014
REA Group has sold its Hong Kong business to iProperty Group, in a deal worth AUD$15 million (US$13.5 million). The sale is subject to iProperty shareholder approval.
iProperty will operate REA's squarefoot.com.hk and its own GoHome.com.hk. Squarefoot also has a printed property magazine that iProperty will take over from REA.
REA's stake in iProperty of 17.2 percent, which it bought from Pa