245: Estate agency in �940m takeover

Navigation trail: / latestnews / archive / 245 - published: 13-12-06

Property business Countrywide has agreed to a �940.7m takeover led by private equity firm 3i.

Leading managers at the Essex-based firm, one of the UK's largest estate agents, will own a minority stake in the business following the deal.

3i, which first approached Countrywide in September, said the deal would enable the business to expand further.

As well as residential property sales and lettings, Countrywide offers legal and financial services.

It also owns a 21% stake in property website Rightmove.

Source:

BBCi - Business