Freshfields, RPC and Gibson Dunn lead on property website merger deal
Freshfields Bruckhaus Deringer, Gibson Dunn & Crutcher and Reynolds Porter Chamberlain (RPC) have taken advisory roles on the merger of property websites Zoopla, FindaProperty.com and Primelocation.com. RPC advised longstanding client Daily Mail and General Trust (DGMT), which owns FindaProperty.com and Primelocation.com, with a team led by corporate head Tim Anderson.
October 18, 2011 at 09:23 AM
2 minute read
Freshfields Bruckhaus Deringer, Gibson Dunn & Crutcher and Reynolds Porter Chamberlain (RPC) have taken advisory roles on the merger of property websites Zoopla, FindaProperty.com and Primelocation.com.
RPC advised longstanding client Daily Mail and General Trust (DGMT), which owns FindaProperty.com and Primelocation.com, with a team led by corporate head Tim Anderson.
Gibson Dunn acted for Zoopla with a team led by City corporate partners Ken Lamb and James Barabas, while Freshfields advised on the competition aspects of the deal for both sides with a team led by competition partner Mark Sansom.
The three-way merger is part of an effort to gain market share from competitor Rightmove, which has monopolised the online real estate market for many years. DGMT has retained a 55% stake in the combination.
Barabas said: "While M&A activity has still been down on the boom years, two sectors that have remained buoyant are energy and natural resources and technology. We have seen a run of technology deals over the last six months and this deal shows that it does not appear to be slowing down."
The role for Gibson Dunn comes after the US firm recently advised alongside Clifford Chance on French media conglomerate Vivendi's £83m acquisition of See Tickets, Britain's second-largest ticketing agency.
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