EQT said to consider In.Corp Group sale


European private equity firm EQT is reportedly considering a sale of its Singapore-based corporate services provider In.Corp Group, after receiving investor interest.

The buyout firm is working with a financial adviser for the potential sale, which could be valued at several hundred million dollars, people familiar with matter told Bloomberg.

The discussions are still at an early stage and the formal process could be launched later this year, they added.

In April 2016, EQT tapped its mid-market focused fund to buy the business, which has a number of offices across South East Asia.

In.Corp specialises in a range of business services including business incorporation, secretarial & compliance, share registry, outsourcing, accounting, taxation, immigration, business advisory, risk assurance, and corporate recovery.

The company announced the merger of six of its Singapore-based subsidiaries into the parent company in January.

EQT recently moved its regional head for the Australasian region Ken Wong out of its Singapore office and into a new dedicated Australian office.

The buyout major, which recently listed on the Swedish stock exchange, targeted $14.75bn for its ninth core fundraise earlier this year.

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