(Nov 28): Singapore state investor Temasek Holdings Pte is in advanced talks to buy a stake in Quest Global Services Pte, a deal that will value the engineering services firm at US$4.6 billion, according to people with knowledge of the development.
Temasek is planning a stake purchase of about 5% in Quest Global in a pre-initial public offering (IPO) round, the people said, requesting not to be named because the matter is private. Other backers could emerge as the discussions are ongoing and subject to change, the people added.
Temasek declined to comment. Quest Global didn’t respond to a request for comment.
Quest Global is preparing for an IPO in India, joining a wave of companies tapping the country’s buoyant capital markets. The firm was last valued at US$1.8 billion when Carlyle Group Inc acquired a stake in 2023, people familiar said at the time.
Quest Global provides engineering manufacturing and services to companies in aerospace and defence, automotive, energy, tech, health care and semiconductors, according to its website. Quest is shifting its domicile from Singapore to India to facilitate a listing, the Economic Times reported in September.
Uploaded by Felyx Teoh
