Singapore's PropertyGuru set for $1.35b SPAC merger
PropertyGuru, a PE-backed Southeast Asia real estate portal, has agreed to merge with a special purpose acquisition company (SPAC) established by Peter Thiel and Richard Li, son of Hong Kong billionaire Li-ka Shing, for an enterprise valuation of $1.35 billion.
The company received $220 million in funding from existing backers KKR and TPG Capital as recently as last September. This followed a failed attempt at an IPO in Australia. Earlier this year, PropertyGuru...
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