"EQT to Acquire PropertyGuru in All-Cash Deal for Singapore"

17 Aug, 2024

"EQT to Acquire PropertyGuru in All-Cash Deal for Singapore"

Sweden-based EQT Private Capital Asia is set to obtain PropertyGuru, a driving property innovation company in Southeast Asia, for around $1.1 billion. This all-cash bargain will lead to PropertyGuru being delisted from the Unused York Stock Trade. The securing, reflecting a critical premium over PropertyGuru's later share costs, highlights EQT’s vital intrigued in the company. It is anticipated to upgrade PropertyGuru's development and development inside the genuine bequest innovation sector.

Under the terms of the merger understanding, each exceptional standard share of PropertyGuru will be canceled and changed over into the right to get $6.70 per share in cash, speaking to a 52% premium over the company's share cost as of May 21, 2024. This premium too incorporates a 75% and 86% increment over the company's 30-day and 90-day normal share costs, respectively.

Major shareholders TPG Asia VI and KKR, holding a combined 56% of PropertyGuru’s offers, have concurred to back the merger. Established in 2006 by Steve Melhuish and Jani Rautiainen, PropertyGuru has developed to be a major player in Southeast Asia. EQT’s later acquisitions reflect its methodology to broaden its showcase nearness over different divisions.