PropertyGuru Shareholders Approve Merger With Hedychium

MT Newswires Live

2024/10/10

PropertyGuru Group (PGRU) said Wednesday that its shareholders approved the merger agreement with Hedychium Group and its unit.

Hedychium Group and its unit are affiliates of EQT's BPEA Private Equity Fund VIII which agreed to acquire PropertyGuru in August for about $1.1 billion in an all-cash deal.

The company expects to close the transaction in Q4, or Q1 2025, and on completion, PropertyGuru will remain headquartered in Singapore, but it will become a private company and its shares will no longer trade on the New York Stock Exchange.

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