PropertyGuru, a leading prop-tech firm in Southeast Asia, announced its acquisition by EQT Private Capital Asia in an all-cash transaction valued at approximately USD 1.1 billion. This significant move follows years of preparation for an IPO, including a merger with Bridgetown 2 Holdings, which saw PropertyGuru debut on the NYSE in March 2022. The shift towards acquisition reflects the challenges faced by PropertyGuru amid market uncertainties and the Covid-19 pandemic. Under the terms, shareholders will receive USD 6.70 per share, representing a substantial premium over recent share prices. Major shareholders TPG and KKR, holding 56% of shares, support the deal, which is expected to close between Q4 2024 and Q1 2025. Post-transaction, PropertyGuru will delist from the NYSE and operate as a private entity with EQT’s backing, aiming to strengthen its market position in Southeast Asia.
Prop-Tech, Private Equity, Real Estate,Southeast Asia, United States
https://mergersacquisitions.einnews.com/article/736466517/pL5oO0nXwndAnZU3?ref=rss&ecode=Q1vNcweEggLWKz7L