EQT AB has completed the acquisition of Hong Kong-based Baring Private Equity Asia, as the Swedish investment firm looks to capture the region’s bright prospects.
The deal combines the two firms’ Asia private equity teams to create BPEA EQT, while Baring’s real estate business will be integrated into EQT’s, according to a statement confirming a Bloomberg News report. The cash and stock transaction was worth €6.8 billion ($6.7 billion) when it was announced in March, making it the biggest takeover of a private equity firm by another in the sector.
EQT is financing the deal with 191.2 million new ordinary shares and €1.6 billion in cash. The shares have plunged about 35% since the transaction was announced, according to data compiled by Bloomberg. The firm counts about €77 billion in assets under management as of the end of June.
Read more: BNN Bloomberg
