Strategic acquisition strengthens City24 SIA’s real estate market solutions

Ellex In Latvia advised City24 SIA on the acquisition of Cenubanka.lv, a leading Latvian real estate market data and analytics platform. 

The transaction marks an important step in City24 SIA’s strategic development, enabling the integration of advanced real estate market data and analytics into Latvia’s largest specialised real estate classifieds portal, City24.lv. Following the acquisition, users will gain access to reliable market insights alongside property listings, supporting more informed real estate decisions.

Cenubanka.lv will continue operating as a separate brand, ensuring uninterrupted services for its existing customers and partners. 

City24 SIA is part of Baltic Classifieds Group, the leading online classifieds group in the Baltics, operating 15 leading online classifieds portals across Latvia, Lithuania and Estonia. 

The Ellex in Latvia team was represented in the transaction by Partner Sarmis Spilbergs and Senior Associate Kaspars Oļševskis.