EQT Agrees to Buy Exeter Property Group for $1.9 Billion : v

EQT Soars to Record Valuation on $1.9 Billion Property Deal
Bloomberg
1/26/2021
Rafaela Lindeberg and Charles Daly
© Bloomberg
A train travels along railway tracks towards Gamla Stan in Stockholm, Sweden, on Thursday, Aug. 6, 2020. Sweden was unable to escape its worst economic contraction ever despite adopting one of Europe’s softest approaches to the Covid-19 pandemic.
(Bloomberg) -- Sweden’s EQT AB, one of Europe’s biggest private equity firms, added about a fifth to its share price after striking a $1.9 billion deal that gives it access to real estate markets across North America and Europe.
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Stockholm-based EQT agreed to take over closely held Exeter Property Group, it said on Tuesday. It will pay about $800 million in new shares and the rest in cash. The announcement drove EQT’s stock up roughly 20%, giving it a record valuation of more than $30 billion.

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