Bridgetown 2 Holdings, a SPAC backed by billionaires Richard Li and Peter Thiel, is in advanced talks to merge with Singapore’s online real estate firm PropertyGuru, Bloomberg reports, citing people with knowledge of the matter.
The SPAC has been in discussions with PropertyGuru on the potential deal, which could be announced as soon as next month, said the people, who asked not to be identified as the information is private. A transaction could value the combined firm at as much as $2 billion, the people said.
Rumors that PropertyGuru was mulling a SPAC deal began circulating three months ago.
Shares in Bridgetown 2 Holdings were up 5.7 percent in pre-market trading. Read more.
