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Investing.com -- Singapore state investor Temasek Holdings Pte is in advanced negotiations to purchase approximately 5% stake in Quest Global Services Pte, according to Bloomberg, citing people familiar with the matter.
The potential deal would value the engineering services firm at $4.6 billion, representing a significant increase from its previous $1.8 billion valuation when Carlyle Group Inc. acquired a stake in 2023.
The investment is being structured as a pre-initial public offering round, as Quest Global prepares for an IPO in India. The company is joining numerous other firms looking to capitalize on India’s active capital markets.
Sources indicated that additional investors might join the funding round, though discussions are still ongoing and terms could change. The individuals requested anonymity as the negotiations remain private.
If completed, this investment would mark another significant addition to Temasek’s diverse portfolio of global assets.
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