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News Corp unit REA to acquire iProperty

"iProperty debuted on the Australian Stock Exchange in 2007 at 25 Australian cents, so this is a 16-fold return for all investors that had participated in the initial public offering, and an annualised return of 41 per cent for the last eight years," said Mr Grove.


AUSTRALIA's REA Group has made a takeover offer for iProperty Group, in a deal valuing the Australia-listed property site at A$751 million (S$751 million), potentially the largest Internet deal in South-east Asia (SEA) in the last decade.

REA, an Australian digital