EQT, Europe's largest private equity house with over €200bn in AUM, is to acquire Singapore-based online real estate platform PropertyGuru in an all-cash deal that values the business at $1.1bn, via the BPEA Private Equity Fund VIII Limited.PARA_BREAK_SENTINEL_9f8e7d6cUnder the terms of the agreement, PropertyGuru shareholders will receive $6.70 per share, representing a 52% premium over the company’s closing price on 21 May, the last trading day before news of the potential acquisition broke, according to a statement from EQT released on Friday.PARA_BREAK_SENTINEL_9f8e7d6cJanice Leow, a partner at EQT Private Capital Asia and head of its Southeast Asia division, commented: “Our offer provides shareholders with compelling value and certainty, while strategically positioning PropertyGuru to fully realize its long-term growth potential.”PARA_BREAK_SENTINEL_9f8e7d6cThe transaction, which is subject to shareholder and regulatory approvals, is expected to be finalised by Q1 2025. US private equity firms KKR and TPG, which together hold a 56% stake in PropertyGuru, have already endorsed the deal.PARA_BREAK_SENTINEL_9f8e7d6cUpon completion, PropertyGuru will be delisted from the New York Stock Exchange and will transition to a privately held company, with its headquarters remaining in Singapore.PARA_BREAK_SENTINEL_9f8e7d6cThe acquisition aligns with EQT's broader strategy as the firm seeks to raise $12.5bn for a new Asia-focused fund, which will be managed by EQT Private Capital Asia.PARA_BREAK_SENTINEL_9f8e7d6cFounded 17 years ago, PropertyGuru has over 28m monthly active users, with more than 46,000 agents and 2.1m property listings across Singapore, Malaysia, Thailand and Vietnam.