RIO DE JANEIRO, BRAZIL - OLX Brasil, a major platform for the sale of new and used items, has just purchased the premium platform of Zap Group to strengthen its position in the country's real estate market. The deal values the Zap Group at approximately R$2.9 billion (US$640 million).
The transaction is subject to regulatory approvals and is expected to be finalized in the second half of this year. If approved, real estate will become OLX's main business category. It is currently second, behind automobiles.
The Zap Group was looking for a round of investments, but . . .