General Atlantic becomes the new shareholder of Swedish real estate marketplace Hemnet, deal is officially agreed upon.

Hemnet, the Stockholm-based marketplace for real estate, was subject to a M&A transaction, whereas Norwegian media company Schibsted acquired it in 2015.

However, the deal was dependent on Swedish authorities approval, as Schibsted already owns Blocket, another siginficant market player in the local market.

Since the Swedish officials denied the Norwegians the deal, Schibsted agreed to sell Hemnet to General Atlantic and angel investors Pierre Siri and Henrik Persson, former investment manager at Kinnevik (through Sprints Capital)

The price of the deal is SEK 2BN ($210M) and marks also the exit of Fastighetsbyrån (the Real Estate Agency) and Svensk Fastighetsförmedling (the Swedish Property Agency).

The purchase is not conditional on any governmental approvals and is expected to close in January 2017