Dec 2024
Conyers represented EQT Private Capital Asia (“EQT”) on the successful closing of its previously announced acquisition of Southeast Asia’s leading property technology company, NYSE-listed PropertyGuru Group Limited (“PropertyGuru”, or the “Company”).
The transaction, which closed on 13 December 2024, was structured as an all-cash merger at US$6.70 per share and which values PropertyGuru at approximately US$1.1 billion. In connection with the merger, PropertyGuru’s ordinary shares ceased trading before the market open on 13 December 2024, and the Company has now been delisted from the New York Stock Exchange. PropertyGuru will continue to operate as a privately held company.
EQT’s acquisition of PropertyGuru aims to support the Company’s ongoing progress by providing resources and expertise to accelerate technology development, expand market reach and improve operational efficiency.
The Conyers team advising EQT was led by mergers & acquisitions Partner Alex Davies, Counsel Matthew Harkness and Associates Caroline Dekker and Mauricio Da Rocha and litigation Partners Erik Bodden and Jonathon Milne, who worked alongside Ropes & Gray LLP as lead legal counsel to EQT.