European buyout giant EQT to buy Baring Private Equity Asia for $7.5 bn

Swedish private equity firm EQT AB has agreed to buy Baring Private Equity Asia Ltd. for 6.8 billion euros ($7.5 billion) as it seeks to significantly build out its business in a region with fast-growing private markets.

It’s the biggest takeover of a private-equity company by another firm from within the industry, according to data compiled by Bloomberg, and gives EQT “immediate pan-Asia presence at scale,” according to a statement Wednesday.

The deal will be financed with 191.2 million new ordinary EQT shares, valued at 5.3 billion euros with the remainder paid in cash. The transaction is set to close in the