The Irish Times reports that Myhome.ie, the property portal owned by the main estate agents, may be sold following a strategic review to be carried out by a leading corporate finance house.
It is understood IBI Corporate Finance has started examining the business with a view to recommending future strategic options. A sale or further expansion by way of acquisition are the two most likely outcomes.
The site is run by a company called MyHome Limited. This company is believed to make profits in excess of €1.2 million a year. The company is owned by the following shareholders: Sherry Fitzgerald (25 per cent); Douglas Newman Good (20 per cent); Gunne Residential (20 per cent) and AIB (20 per cent).
While the site could have strong underlying value, the estate agents may be reluctant to sell such a high profile channel. It also allows consumers to electronically review properties from a number of auctioneering firms.

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Posted: 01|28|06 at 4:42 pm. Filed under: UK News.