Link receives acquisition offer
Link Administration Holdings has received a conditional, non-binding indicative proposal from a syndicate led by Pepper European Servicing Limited to acquire the whole of Link Group’s banking and credit management business.
In an announcement to the Australian Securities Exchange (ASX), the proposed acquisition would be for $86.5 million and was subject to the following conditions:
- Due diligence;
- Obtaining anti-trust approvals;
- Obtaining regulatory change of change approvals;
- Negotiation and execution of transaction documentation; and
- Securing debt financing.
The board would consider the proposal, which included obtaining advice from its financial, legal and tax advisers.
Shareholders were not yet required to take any action and it was noted there was no certainty any transaction would happen.
AUTHOR
Chris Dastoor
Recommended for you
Australian fund managers are actively seeking to launch Cayman versions of their funds to attract offshore flows, with Regal Partners set to launch its latest offering this month.
As private markets gain traction in Australia but only a limited pool of talent is available, three recruiters explore whether fund managers should consider looking overseas to find top talent.
With an explosion of private credit managers appearing in the market, two alternatives experts believe a consolidation is needed to maintain the quality of the sector.
Bentham Asset Management has become the latest fund manager to expand its distribution team as it reports increased interest in its credit strategies.
