(Mar 13): Singapore state investor Temasek Holdings agreed to buy about 30% of Denmark's Haldor Topsoe A/S, the companies said, in a transaction that a source said values the engineering firm at around US$1.5 billion ($2 billion).

As part of the deal, Temasek will subscribe to secondary shares issued by the Topsoe family, which currently owns 100% of the company through Haldor Topsoe Holding A/S, said a person with direct knowledge of the deal.

Haldor Topsoe, which confirmed the deal but did not disclose a price, said Temasek's global reach and connections in Asia and other emerging markets would bring value to the company.

Haldor Topsoe is one of the world's leading industrial catalyst producers. It employs about 2,300 people and logged revenue of about US$760 million in 2017.

Temasek was shortlisted for exclusive talks and finalised a deal with Haldor Topsoe this week, beating global financial sponsors who were competing for the stake, said the person, who declined to be identified as the talks are private.

The owners of the Danish firm began seeking a financial minority investor last year to accelerate growth, with a long-term intention to list it.

SEB and Citi are acting as financial advisors and Kromann Reumert is acting as legal advisor to Haldor Topsoe Holding A/S, the Danish holding company said.

Nomura is acting as exclusive financial advisor and Plesner is acting as legal advisor to Temasek, Haldor Topsoe said.

For the year ended March 2018, Temasek reported a record-high annual portfolio value and said it aimed to temper its pace of investment amid rising trade tension between the United States and China.