Nine Strikes $2.7 Billion Deal to Sell Domain to US Property Giant

Nine Entertainment said the company supported CoStar’s acquisition after considering its shareholders’ best interests.

The masthead of the digital property portal Domain in Sydney, Australia, on Sept. 22, 2017. William West/AFP via Getty Images

Nine Entertainment announced on May 9 that it had entered into a binding deal with U.S.-based CoStar Group to sell its entire stake in Domain, one of Australia’s largest real estate portals.

The agreement, known as a scheme implementation deed, outlines the process for CoStar, valued at US$32 billion, to acquire Domain at $4.43 per share.