KKR - EQT agrees to buy Barings Asia PE unit for $7.5B in cash and stock

European private equity firm EQT AB agreed to buy rival PE firm Baring Private Equity Asia for $7.5 billion in cash and stock. The total consideration for the purchase includes EUR 6.8bn, consisting of 191.2m new ordinary EQT shares, valued at EUR 5.3bn, plus EUR 1.5bn in cash, according to a statement. EQT will invest in and be entitled to 35% of the carried interest in all future funds, starting with BPEA Fund VIII, in line with existing EQT policies.  EQT is one of the biggest private equity companies in Europe and has been getting larger to better compete against U.S. rivals Blackstone (NYSE:BX), KKR (NYSE:KKR) and Apollo Global (NYSE:APO).  Sweden's EQT has cash and facilities in place to fund the cash consideration. In addition, EQT may review long-term financing options. The deal is expected to close in Q4.  Morgan Stanley is acting as financial adviser to EQT in relation to

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EQT agrees to buy Barings Asia PE unit for $7.5B in cash and stock