Business
REA Group (ASX:REA) share price on watch after acquisition update
The REA Group Limited (ASX: REA) share price will be on watch this morning after a late announcement on Thursday.
What did REA Group announce?
After the market close on Thursday, the property listings company provided an update on its stake in India-based Elara Technologies.
At the end of October, REA Group announced an agreement to increase its holding in Elara. This was to be achieved through a combination of subscribing for new preference shares and the acquisition of the existing shareholdings of certain minority shareholders.
According to the release, REA Group’s shareholding in Elara now has increased from 13.5% to 54.3%. The company also now has the right to appoint 5 out of 9 Elara board seats and will consolidate…
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