Singapore-based ERA Real Estate is looking to sell its Asian Pacific franchising rights, and according to a Dow Jones report it could go for up to S$200 million (US$160 million).
Hersing, a manager of regional franchises currently possesses the master rights for ERA Real Estate in 18 countries in the Asia Pacific region including Singapore, China, Japan and Malaysia.
ERA Real Estate is one of Singapore’s largest real-estate agencies with 4,800 representatives, and the brand is owned by US based Realogy Holdings Corp. Hersing’s latest annual report stated that the estate agent completed more than 35,000 property sales totaling nearly S$17 billion (US$13.48 billion) in 2011.
According to The Wall Street Journal, Hersing has lined up five potential buyers, including private equity firms, and the company aims to close the first round of bidding by the end of June and complete a deal in two to three months.
Hersing manages a variety of franchises as well as real estate, such as storage solutions, financial services and children’s furnishings. It was de-listed from the Singapore Exchange in November after its founder Chairman Harry Chua made the company private.
Source – PropertyReport – 19 Jun 2013