EQT to acquire real estate platform PropertyGuru in $1.1 bln deal (updated)

PropertyGuru

16/08/2024 09:04

(Updates with further details and background)
       Aug 16 (Reuters) - Swedish investment firm EQT AB
 EQTAB.ST  will acquire PropertyGuru  PGRU.N  in an all-cash
deal, valuing the Singapore-based online real estate platform at
$1.1 billion, the latter said on Friday. 
    As part of the deal, PropertyGuru's shareholders will
receive $6.70 per share, a 7% premium to the firm's last close
on Thursday. 
    PropertyGuru will be acquired by EQT Private Capital Asia,
the Swedish private equity firm's Asia-focused buyout fund. 
    The Singaporean firm went public in 2022 after a merger with
a special purpose acquisition company called Bridgetown 2
Holdings.
    Australian real estate firm REA Group  REA.AX  owns a more
than 17% stake in PropertyGuru and said it expects around A$286
million ($189.6 million) in proceeds from the sale. 

($1 = 1.5085 Australian dollars)

 (Reporting by Rishav Chatterjee and Kanjyik Ghosh in Bengaluru;
Editing by Sonia Cheema)
 ((Kanjyik.Ghosh@thomsonreuters.com;))