EQT Sells 70% Stake in Idealista, Offers Premium for Keywords Studios

EQT Sells 70% Stake in Idealista, Offers Premium for Keywords Studios

Emilia Cruz
2 min read

EQT Makes Major Moves in Real Estate and Gaming Industries

EQT has recently finalized the sale of a 70% stake in Idealista, an online real estate platform, to Cinven for an impressive €2.9 billion, while retaining an 18% holding. Notably, Apax Partners and Oakley Capital are making an exit from the company, whereas founder Jesus Encinar will continue to lead the firm, maintaining his stake. Idealista is a key player in the real estate markets of Spain, Italy, and Portugal, and this strategic divestiture follows EQT's initial acquisition of the platform in 2020 for €1.3 billion.

Key Takeaways

  • EQT sells 70% of Idealista to Cinven for €2.9 billion and retains an 18% stake.
  • Keywords Studios receives a tempting offer of 2,450 pence per share from EQT, which constitutes a 12.5% premium.
  • Keywords Studios anticipates 10% organic growth in the latter half of 2024.
  • The sale of Idealista marks EQT's third major deal this month.
  • Keywords Studios is transitioning its reporting currency to USD and is eyeing more than €100 million for mergers and acquisitions.


EQT's decision to offload a significant stake in Idealista to Cinven for €2.9 billion has substantial implications. This move impacts investors like Apax and Oakley, who are exiting, while founder Encinar's retention and leadership secure continuity for the platform. Furthermore, Keywords Studios' potential acquisition by EQT at a premium is expected to bolster its market position and fund mergers and acquisitions, thereby enhancing its growth prospects. The decision to switch to reporting in USD aligns with its global expansion strategies. In the short term, EQT's liquidity is set to increase, while in the long term, both Idealista and Keywords Studios could witness enhanced market competitiveness and financial stability through strategic investments and acquisitions.

Did You Know?

  • EQT: EQT is a leading global investment organization that focuses on active ownership strategies. It manages multiple funds, investing across various sectors, including technology and real estate. Known for its approach to acquiring stakes in companies and subsequently improving their operations for long-term value creation.
  • Cinven: Cinven is a prominent European private equity firm renowned for its investments in large companies that can benefit from its strategic, operational, and financial expertise. It typically targets sectors where it has in-depth knowledge and can leverage its resources to drive growth and value creation.
  • Keywords Studios: Keywords Studios is an international provider of technical and creative services to the global video games industry. Its diverse range of services includes localization, testing, art creation, and audio production. The company's strategic initiatives, such as transitioning its reporting currency to USD and planning significant mergers and acquisitions, highlight its intent to expand its global footprint and enrich its service offerings.

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