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.
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.
AUTHOR
Chris Dastoor
Recommended for you
Ten Cap has announced it will launch its first active ETF on the ASX later this month, expanding retail access to its flagship Australian equities strategy.
Flows into cash and fixed income ETFs rose by 46 per cent in October with investors particularly demonstrating a preference for Australian credit ETFs as they move away from AT1 bank hybrids.
Having identified Australia as a growth market, J.P. Morgan Asset Management has collaborated with Betashares to offer two multi-asset managed portfolios on its Direct platform, the first funds on the platform from an external manager.
First Sentier has announced it will transition the Stewart Investors investment management responsibilities to its affiliate investment team in light of three senior portfolio manager exits.
