Share Prices & Company Research

Market News

26 Jan 2021 | 10:35

Sweden's EQT to buy US-based Exeter Property Group for $1.9bn

(Sharecast News) - Swedish private equity firm EQT has agreed to buy US real estate investment manager Exeter Property Group for $1.9bn in cash and shares. The consideration comprises $800m in new shares and the rest in cash.

EQT said on Tuesday that the deal is part of its strategic growth ambitions within real estate and creates a scaled thematic investment platform across North America and Europe. "It also provides Exeter management with the ability to continue their track-record as a top performing real estate investment manager," it said.

EQT chief executive and managing partner Christian Sinding said: "We are excited to accelerate our strategy of building a globally-scaled real estate platform and diversifying the firm within private markets by joining forces with Exeter.

"We have a high bar for strategic M&A, and Exeter is one of the few opportunities we have identified which clears and well surpasses it. With its value-creation-focused investment approach, one of the strongest track-records in value-add real estate globally, and importantly, a people-and-performance-centric culture, we are all well-aligned."

Exeter Property has more than $10bn of assets under management.

EQT shares surged on the news and by 1315 GMT, were trading up 21% at SEK269.80.
Get in touch today
Join Redmayne Bentley
Talk to us now about opening a new account or transferring your account from another provider
0113 243 6941
Get in touch today
Contact your local office
Contact your local office to find out more
The value of your investments and the income from them may go down as well as up, and you could get back less than you invested.
Continuing our Personal Service: View our Latest COVID-19 Update: 30th April 2021
We use cookies on this site to improve your experience and help us provide you with a better website. An explanation of the cookies we use and their purpose can be found within our Cookie Policy. Your continued use of this site means you consent to the use of cookies.