Australian Property Updates

Property Information & Real Estate Updates

RP Data may be sold to CoreLogic

US data provider CoreLogic aims to dramatically expand its international footprint. This, after launching a $194 million takeover offer for the shares it doesn’t already own in local real estate information services company, RP Data, The Australian reports. CoreLogic is offering $1.65 per share plus a 5c per share dividend from RP Data. CoreLogic, listed on the New York Stock Exchange last year, will also assume RP Data’s $45m of bank debt.

CoreLogic has been a foundation shareholder of the Australian company since it was floated in 2006. It currently has a 40.2 per cent stake in RP Data and a 20-year strategic alliance agreement with the group.

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