EQT Soars to Record Valuation on $1.9 Billion Property Deal (1)

Sweden’s EQT AB, one of Europe’s biggest private equity firms, added about a fifth to its share price after striking a $1.9 billion deal that gives it access to real estate markets across North America and Europe.

Stockholm-based EQT agreed to take over closely held Exeter Property Group, it said on Tuesday. It will pay about $800 million in new shares and the rest in cash. The announcement drove EQT’s stock up roughly 20%, giving it a record valuation of more than $30 billion.

Christian Sinding, EQT’s chief executive, said buying Exeter fits with his “strategy of ...