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Silverlake buys online property portals owner ZPG for £2.2B

U.S. private equity firm Silverlake took over U.K.-headquartered ZPG Plc — that owns online property portals Zoopla Ltd., PrimeLocation and SmartNewHomes — in a deal worth £2.2 billion, Property Week reported, citing ZPG CEO Alex Chesterman.

The acquirer priced each ZPG share at 490 pence, reflecting an increase of about one-third to its May 10 closing price.

Silverlake garnered the support of 31% investors, which included company directors and 29.9% ZPG stakeholder, Daily Mail and General Trust, the May 11 report noted.