EQT Private Capital Asia To Acquire PropertyGuru

In a major investment move, EQT Private Capital Asia is set to acquire Southeast Asia's leading proptech firm, PropertyGuru, for $1.1 billion. The all-cash deal is expected to significantly impact the real estate and investment landscape in the region.

• Acquisition Details: The deal reflects EQT’s commitment to expanding its presence in Southeast Asia’s growing proptech sector.

• Board and Shareholder Support: The acquisition has been unanimously approved by PropertyGuru’s Board of Directors. Major shareholders, including TPG and KKR, who own 56% of the company, have also committed their support for the merger.

• Future Outlook: The transaction is slated to close between Q4 2024 and Q1 2025, contingent on regulatory approvals and shareholder consent. Once completed, PropertyGuru will become a private entity and its shares will be delisted from the New York Stock Exchange.

With this acquisition, EQT aims to leverage its expertise to drive further innovation and growth in the proptech space.