PropertyGuru Group have overwhelmingly voted in favour of a privatization merger with a 97% majority.
According to a press release circulated yesterday, the $1.1 billion privatisation merger by private equity firm EQT will close in Q4 2024 or Q1 2025.
PropertyGuru has only been a public company for two years, but continued losses and a lack of progress outside its native Singapore sent the rumour mill into overdrive earlier this year.
Now it appears Swedish PE firm EQT, itself publicly listed on the New York Stock Exchange, is ready to flex its muscles and make PropertyGuru profitable without the pressure of quarterly updates to the market.
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