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Silver Lake buying UK property portal for $3 billion

Photo by Matt Cardy/Getty Images

Private equity firm Silver Lake has agreed to acquire British online property portal Zoopla for around $3 billion in cash, or 490 pence per share (31% premium). Sellers would include Daily Mail & General Trust, which holds a 29.9% stake.

Why it matters: Because this appears to be the largest acquisition ever of a British e-commerce/services company, topping Ctrip's 2016 purchase of Skyscanner.