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.