BPEA EQT, a subsidiary of Sweden's EQT, announced on Friday that it had completed the merger of its Hong Kong-based business services firms Vistra and Tricor, valuing the combined entity at $6.5 billion, including debt.
In 2021, BPEA paid $2.8 billion to private equity firm Permira for business expansion specialist Tricor. In 2015, the company paid an undisclosed sum for a majority stake in Vistra.
Simon Webster, who joined Vistra as CEO in November 2022, will lead the combined company, according to BPEA EQT.
In a separate statement, Vistra stated that the company and Tricor will merge in early 2024 and will continue to be owned by BPEA EQT.
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