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EQT buys Southeast Asia’s PropertyGuru for USD1.1bn



EQT Private Capital Asia will acquire Southeast Asia’s leading proptech company, PropertyGuru, for USD1.1bn. PropertyGuru’s board unanimously approved the merger, which offers USD6.70 per share, a 52% premium to its May 21 closing price. Major shareholders, TPG and KKR, holding 56% of PropertyGuru’s shares, support the deal. EQT’s experience in technology and marketplaces aims to enhance PropertyGuru’s platform. The transaction is expected to close by early 2025, subject to shareholder and regulatory approvals. Upon completion, PropertyGuru will be delisted from the New York Stock Exchange and will become a private company, with its headquarters remaining in Singapore.

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