CoStar Group announced it has entered a binding Scheme Implementation Deed to acquire 100% of Domain Holdings Australia Limited, a leading Australian property marketplace. This agreement follows CoStar's initial acquisition of approximately 17% of Domain's shares in February 2025 for A$452 million ($285 million) at A$4.20 per share.
Under the terms, CoStar Group will pay Domain shareholders a cash consideration of A$4.43 per share for the remaining 83% of shares, valuing Domain at an implied enterprise value of A$3.0 billion, or approximately $1.92 billion. The Domain Board has unanimously recommended the scheme, and Nine Entertainment Co. Holdings Limited, with a 60.1% stake, intends to vote in favor.
The acquisition is subject to Domain shareholder and Court approval, Australian Government’s Foreign Investment Review Board approval, and an Independent Expert concluding the scheme is in shareholders' best interest. The Scheme meeting is expected in mid-August 2025, with implementation anticipated in the third quarter of 2025.
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