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iProperty Group Enters India By Acquiring RealAcres.com; To Invest Almost $500,000 In Working Capital

The IPGA Group (iProperty), a company listed on the Australian Stock Exchange (ASX), has entered the Indian market by acquiring Horizon Infoventures, which owns the Indian property portal RealAcres. The acquisition has been made through its wholly owned subsidiary iProperty Group Asia Pte Ltd. iProperty will introduce print, exhibition and online luxury products to the Indian market. They had acquired an events company in March this year (see below for acquisitions). The terms of the deal: iProperty will invest A$ 0.53 Million (around $470,000) in 4 tranches for 43 percent shares, and swap shares for 17 percent. They will have the option to acquire the remaining 40 percent based on future earnings. The management of RealAcres have a lock-in for a minimum of 3 years. The deal appears similar to iProperty's July 2008 acquisition of VRHouse.com.tw in Taiwan. RealAcres claims…

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