Walkers advises PropertyGuru in its merger with a SPAC backed by Richard Li and Peter Thiel to go public

Walkers is acting as Cayman Islands counsel to Southeast Asia's leading property technology company PropertyGuru Pte. Ltd. in its merger with NASDAQ-listed Bridgetown 2 Holdings Limited, a special purpose acquisition company (SPAC) formed by Pacific Century Group and Thiel Capital LLC, giving the combined company an equity value of approx. US$1.78 billion.  Upon closing, the combined company is expected to begin trading on the New York Stock Exchange

PropertyGuru’s shareholders, including KKR, TPG Capital and REA Group, will retain over 70% ownership of the listed company.

The Walkers team is led by Singapore-based partner James Twigg, with support from senior associate Michael Kenny.  Other legal advisors include Latham & Watkins LLP, Allen & Gledhill LLP, Skadden, Arps, Slate, Meagher & Flom LLP and Rajah & Tann Singapore LLP.