OLX Brazil buys Grupo Zap for $640 million

Adevinta, one of the controllers of the marketplace platform OLX Brasil, announced on Tuesday an agreement to purchase all the shares of Grupo Zap, which includes the real estate classified platforms Zap and Viva Real. The transaction, of R$2.9 billion ($640 million) in cash, will be financed equally by the two shareholders of OLX Brasil.

Source: Infomoney