EQT Private Equity has announced the sale of its majority stake in idealista, a leading real estate platform in Spain, Italy, and Portugal, in a transaction valued at EUR 2.9 billion. Cinven will acquire a 70% stake in idealista, while EQT will retain an 18% share. The deal also involves funds advised by Apax and Oakley selling their shareholdings.

EQT originally acquired idealista in 2020 at a valuation of EUR 1.3 billion. Bert Janssens, Partner and Head of the Private Equity Europe advisory team at EQT, highlighted idealista's strengthened market position and new digital and sustainability initiatives over the past four years. He expressed confidence in the company's future growth and excitement about remaining invested.

Jesus Encinar, founder and Chairman of idealista, will continue to lead the company alongside the existing management team. Encinar welcomed the news, emphasizing the continued partnership with EQT as a minority shareholder.

The transaction is subject to customary conditions and approval.

EQT is a global investment organization managing EUR 242 billion in total assets, with a focus on sustainable growth and operational excellence across its portfolio companies. For more information, visit www.eqtgroup.com.