(Telestock) – EQTa Swedish private equity giant, has signed a agreement to acquire PropertyGuru GroupSoutheast Asia’s leading real estate technology company, in an all-cash transaction that values PropertyGuru about $1.1 billion.
The transaction was signed by BPEA Private Equity Fund VIIIWith this transaction, BPEA Private Equity Fund VIII will be invested at 70-75%.
The counterpart represents a award 52% above PropertyGuru’s closing share price on May 21, 2024, the last day of trading before media speculation about a potential transaction, and a 75% and 86% premium above the 30- and 90-day volume-weighted average price.
THE main shareholders, TPG And KKRwho hold a combined share of 56% of outstanding common shares, have entered into agreements with EQT to support the transaction.
Upon completion of the transaction, PropertyGuru shares will no longer be traded on the New York Stock Exchange and PropertyGuru will become a private company. PropertyGuru’s headquarters will remain in Singapore.
(Photo: Photo by Sean Pollock on Unsplash)