Rajah & Tann Singapore advised Bridgetown 2 Holdings Limited, a special purpose acquisition company (SPAC) formed by Pacific Century Group and Thiel Capital LLC, in respect of its proposed merger with PropertyGuru Pte. Ltd. into a combined company with an enterprise value of approximately US$1.35 billion and an equity value of approximately US$1.78 billion and the proposed listing of the combined company on the New York Stock Exchange. The transaction is expected to deliver gross proceeds of up to US$431 million, including through a private placement of US$100 million to investors including Baillie Gifford, Naya, REA Group, Akaris Global Partners, and one of Malaysia’s largest asset managers.
Partners Evelyn Wee and Hoon Chi Tern led the transaction. Partner Desmond Wee led the corporate commercial aspects of the transaction, Partner Benjamin Cheong led the intellectual property aspects of the transaction, Partners Elsa Chai and Lina Chua led the real estate aspects of the transactions and Partner Vikna Rajah led the tax aspects of the transaction.
