Ashurst advises Goldman Sachs International on £99 million takeover of OnTheMarket plc
19 October 2023
Global law firm Ashurst has advised Goldman Sachs International as financial adviser to CoStar Group and CoStar UK Limited (Bidco) on the approximately £99 million recommended cash offer by Bidco to acquire the entire issued and to be issued share capital of OnTheMarket plc.
OnTheMarket is a leading UK residential property portal provider, admitted to trading on AIM. It has extensive knowledge of, and expertise in, the UK residential property market and is the operator of the OnTheMarket.com property portfolio. It is currently the third most visited residential property portal in the United Kingdom.
NASDAQ-listed CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets. Founded in 1987, CoStar conducts expansive, ongoing research to produce and maintain the largest and most comprehensive database of real estate information. CoStar's websites attracted approximately 280 million visits in September 2023, and include Homes.com, the agent-friendly, second largest and fastest growing residential marketplace in the United States.
The Ashurst team was led by corporate partner Tom Mercer, supported by senior associate Maria McAlister and associate Colin Bugler.
