Nine Entertainment Co. Holdings' (ASX:NEC) bankers are negotiating the sale of its 60% stake in Domain Holdings Australia (ASX:DHG) to US real estate firm CoStar Group for AU$4.65 per share, valuing the stake at about AU$1.76 billion, according to a Thursday report by the Australian Financial Review.
CoStar currently holds a 16.9% stake in Domain and previously offered $4.20 per share for the remainder of the property listings platform, per the report.
Nine's asking price represents a 49% premium over Domain's pre-offer price, compared to CoStar's initial 34.6% premium.
Jefferies advises Nine, while CoStar is working with Macquarie Capital. Domain is represented by UBS, the report added.
NEC did not immediately respond to a request for comment from MT Newswires.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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