Centuria completes Primewest acquisition

Centuria Capital has completed its takeover bid with the completion of the compulsory acquisition of remaining Primewest shares.

In an announcement to the Australian Securities Exchange (ASX), it said it now owned 100% of Primewest.

In April, Centuria entered into a bid implementation deed via an off-market takeover for Primewest.

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The Primewest board represented 53% of the company’s securities and unanimously recommended to its securityholders to accept the merger.

Under the terms of the deal, Primewest securityholders would receive $1.51 per Primewest security.

The acquisition saw Centuria upgraded to the ASX 200 in July.

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