28 November – LAWFUEL – The Law News Network – Osborne Clarke has advised News International Ltd, the main UK subsidiary of News Corporation, on its acquisition of the classified advertising website propertyfinder.com for c.£15m. News International, which owns The Times, The Sunday Times, The Sun and News of the World, purchased the largest property portal in the UK for independent estate agents from VC firm Arts Alliance and minority shareholders.
Under the terms of the deal, News Corp and realestate.com.au, its 51.5 percent owned Australian subsidiary, purchased 95 percent of site owner Asserta Holdings.
This is Osborne Clarke’s first deal in acting on the corporate side for the News International Group. Commercial partner Nick Johnson led the Osborne Clarke team, with Simon Fielder and Caroline Grange on the corporate side. The team also included tax, employment, property and litigation lawyers.
Liz Field from Stephenson Harwood advised the selling shareholders.
