PropertyGuru Takeover On The Horizon? KKR And TPG Reportedly Explore Buyout

KKR & Co. Inc. (NYSE:KKR) and TPG Inc. (TPG) are reportedly exploring options, including a buyout of Southeast Asian online real estate platform PropertyGuru Group Ltd. (NYSE:PGRU).

The U.S. private equity firms are working with a financial adviser to help gauge initial interest from other global investors in PropertyGuru, reported Bloomberg. 

As per the report, KKR and TPG, which own about 26.5% and 29.6% of PropertyGuru, respectively, could also buy the remaining shares they don’t already hold.

Yesterday, PropertyGuru reported Q1 FY24 revenue of S$36.5 million, missing consensus of S$37.3 million and adjusted EBITDA rose to S$4 million from S$0.2 million a year ago.

This month, KKR acquired a significant minority stake in Infinx to enhance its growth and support healthcare tech advancements.

Also, KKR inked a deal to acquire Perpetual’s wealth management and corporate trust businesses for AU$2.175 billion (~$1.43 billion).

Investors can gain exposure to KKR stock via Northern Lights Fund Trust IV FMC Excelsior Focus Equity ETF (NYSE:FMCX) and EA Series Trust WHITEWOLF Publicly Listed Private Equity ETF (BATS:LBO).

Price Action: KKR shares are up 0.11% at $106.61 at the last check Wednesday.

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