Australia’s Domain joins tender group for real estate company PEXA

Adds case details, background

May 28 (Reuters) – Domain Holdings Australia DHG.AX announced on Friday that it would join a consortium seeking to acquire a 10% stake in the holding company of online real estate platform PEXA, without specifying who it is partnering with.

It comes a day after PEXA’s largest shareholder, Link Administration Holdings Ltd. LNK.AX said private equity giant KKR & Co KKR.N had offered to buy PEXA in a deal worth over AU $ 3 billion ($ 2.32 billion) and planned to team up with Domain.

Shareholder registration company Link assessed a commercial sale or initial public offering for PEXA, which has seen rapid growth due to a booming Australian real estate market, and had set June as the deadline for bidders.

Real estate classifieds operator Domain has said it plans to acquire a stake in Torrens Group Holdings, 44.2% owned by Link, and the remainder by Morgan Stanley Infrastructure Partners MS.N and Commonwealth Bank of Australia CBA.AX.

Link did not immediately respond to a request for comment from Reuters.

($ 1 = Australian dollars 1.2915)

(Reporting by Anushka Trivedi in Bangalore; Editing by Shinjini Ganguli)

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