Blacksheep Fund Management, a Dublin-based fund manager, has emerged as the buyer of Distilled, the company behind Daft.ie, DoneDeal.ie and Adverts.ie.
The deal will see Adevinta, a Norwegian group, exit the company while co-owners Eamonn and Brian Fallon will retain a shareholding and continue to lead the business.
The company confirmed the news on Monday but declined to comment on its value. Blacksheep is an investment fund that manages the assets of charitable institutions.
Investment sources say the deal could be worth upwards of €300 million. However, Reuters, which reported in September that Barclays had been hired to advise on the holdings of Distilled, said that a possible sale could value the business at as much as €600 million.
Distilled was set up in 2015
