Appleby is acting as offshore counsel for the Special Committee of the Board of Directors of PropertyGuru Group Limited advising on all offshore aspects of its proposed merger with EQT AB by way of a Cayman statutory merger, expected to close in Q4 2024 or Q1 2025.
PropertyGuru has entered into an agreement and plan of merger with affiliates of BPEA Private Equity Fund VIII Limited, part of EQT AB, a purpose-driven global investment organization, pursuant to which it will be acquired in an all-cash transaction that values PropertyGuru at an equity value of approximately USD1.1 billion. The Board of Directors of PropertyGuru, acting upon the recommendation of its special committee which negotiated the terms of the merger agreement, unanimously approved and resolved to recommend approval of the proposed merger by PropertyGuru’s shareholders.
This high-profile transaction is being led by Hong Kong and Shanghai Managing Partner David Bulley and Alejandra Gonzalez Saucedo as lead associate, with a cross border team from members of Appleby’s Hong Kong and Shanghai offices, including Damon Booth, Fanny Or and George Mallis in Hong Kong, and Hannah Yao, Mandy Qi and Stephanie Wang in Shanghai.
Commenting on the matter David said “This transaction once again showcased the strength and expertise of our Hong Kong and Shanghai’s US public M&A teams in high-profile transactions, and our leading position in this space in Asia and the US with clients continuing to use Appleby due to our market leading cross-jurisdictional teams and expertise.”
