newsLatham & Watkins has advised Southeast Asian online realty company PropertyGuru on its planned $431 million New York listing via merger with blank-check firm Bridgetown 2, which was represented by Skadden, Arps, Slate, Meagher & Flom and Rajah & Tann Singapore.

The estimate equity value of the merger is said to be about $1.78 billion.

Founded in 2007, PropertyGuru offers digital property marketplaces to match buyers and tenants with sellers and landlords, as well as digital marketing for property agents and developers. It operates across Indonesia, Malaysia, Singapore, Thailand and Vietnam.

According to Reuters, the $431 million amount includes a private investment of $100 million from Baillie Gifford, Naya, REA Group, Akaris Global Partners, and one of Malaysia’s largest asset managers.

PropertyGuru’s shareholders, including KKR, TPG Capital and REA Group, will retain 100 percent of their equity into the combined company and more than 70 percent ownership of the listed company.

Partners Sharon Lau, Noah Carr, Jiyeon Lee-Lim, and David Della Rocca led the Latham team while the Skadden team was led by partners Jonathan Stone, Gregg Noel, Rajeev Duggal, Victor Hollender, Joseph Yaffe and Bruce Goldner.

The Rajah & Tann team was led by partners Evelyn Wee, Hoon Chi Tern, Desmond Wee, Benjamin Cheong, Elsa Chai, Lina Chua and Vikna Rajah.


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