Frontier Digital Ventures (ASX: FDV), the Malaysia-based operator of marketplaces in Central and South America and developing Asia, has reached an agreement to buy the remaining 49% stake at real estate vertical InfoCasas, the company said.
InfoCasas is Uruguay’s No. 1 real estate vertical. It is also the leading property vertical in Paraguay and Bolivia.
With the agreement, FDV now goes from a 51% to a 100% stake at InfoCasas.
The transaction consolidates FDV’s position with three wholly-owned marketplaces in South America. These include the leading horizontal Yapo.cl in Chile, and the No. 1 real estate vertical FincaRaiz.com.co in Colombia.
“InfoCasas is one of the best performing businesses in FDV’s portfolio, demonstrating strong revenue growth, four consecutive quarters of positive EBITDA, and operating on a self-sustaining basis,” the company said in a statement.
FDV also owns a 26.3% stake at Central America marketplace Encuentra24, following its merger with OLX in the region.
“On completion, FDV will have 100% ownership of InfoCasas, FincaRaiz.com.co and Yapo.cl, which is expected to facilitate greater partnership and monetization opportunities,” said FDV’s CEO, Shaun Di Gregorio.
The executive said FDV “continues to actively assess opportunities to scale across emerging markets, with our focus now shifting back to developing Asia.”