Funds advised by Apax Partners (Apax Funds) will acquire the Baltic Classifieds Group (BCG) — a portfolio of leading online classified advertising platforms in the Baltics — from Media Investments & Holding, a Baltic-based media business. The transaction is expected to close by July 2019. Its financial terms have not been disclosed.

BCG operates Autoplius.lt, Aruodas.lt, Skelbiu.lt, CVBankas.lt, KV.ee, City24.ee, City24.lv, Osta.ee and Soov.ee.They are some of the most visited websites in their respective countries, generating more than 50 million monthly visits in aggregate, Apax said in its news statement announcing the transaction.

BCG’s operations in Lithuania had been under investigation by the Lithuanian Competition Council (KT) since 2014 when Media Investments & Holding’s Eesti Meedia (its current name is Postimees Group) purchased Allegro Baltics. The latter owned Estonian real estate site Kv.ee and Lithuanian SaaS provider Diginet.lt at that time.

The Lithuanian Competition Council has finally acknowledged that Eesti Meedia has properly met its commitments to hand over part of its websites to an unrelated company in August 2018 (more).

The current transaction will be subject to regulatory approvals.

Apax’s investment in Baltic Classifieds Group will be its ninth in this space and the first in the Baltic region. Previous investments include Auto Trader in the U.K., Idealista in Spain, SoYoung and SouFun in China, and Trade Me in New Zealand.

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