M&A WATCH- Emerging Markets Property Group (EMPG) has merged with classified ads business OLX Group in Egypt, the UAE, Lebanon and Pakistan, a company statement said. The agreement involves a USD 150 mn investment round led by OLX and shareholders of EMPG, which the statement claims values the emerging markets property portal at USD 1 bn and makes OLX its largest shareholder with a 39% stake. EMPG said it will use the new capital to improve the user experience on OLX platforms and increase market intelligence for consumers and businesses.

Tags: