CoStar Group (CSGP) said Friday it signed a binding scheme implementation deed to acquire all of the issued capital of property marketplace Domain Holdings Australia.

The company said that in February, it bought about 17% of Domain's ordinary shares for a total purchase price of about 452 million Australian dollars ($285 million), or AU$4.20 per share.

Under the scheme implementation deed, CoStar will pay Domain shareholders a cash consideration of AU$4.43 per share for the balance of the shares through a scheme of arrangement, valuing Domain at an implied enterprise value of AU$3 billion, CoStar said.

The company said it expects to spend about AU$2.3 billion to buy the remaining 83% of the ordinary shares that it doesn't own.

CoStar said that Nine Entertainment, which has a roughly 60% stake in Domain, intends to vote all of the Domain shares it holds or controls in favor of the scheme of arrangement.

The scheme is set to be implemented in Q3, subject to certain conditions, CoStar said.