Noumi signs buyout deal with major shareholder Arrovest
- Noumi (ASX:NOU) signed a binding scheme implementation deed with its major shareholder, Arrovest, to acquire all remaining shares for $0.1234 each.
- Scheme shareholders receive a cash offer representing a 12.2% premium over the prior closing price of $0.11 per share.
- The takeover provides a coordinated solution to address a looming $610 million mandatory cash redemption of convertible notes.
Noumi (ASX:NOU) entered a binding agreement with its largest shareholder, Arrovest, to acquire all remaining ordinary shares in a takeover valued at $737 million.
The cash offer of $34.2 million, representing a 12.2% premium compared to the previous closing price of $0.11.
“In the IBC's view, Arrovest's proposal is the only credible and executable pathway identified that addresses the note maturity as part of a coordinated debt and equity solution and delivers a cash outcome to scheme shareholders and listed optionholders,” said Noumi Independent Board Committee Chair Genevieve Gregor.
The agreement follows a year-long strategic review to address $610 million in mandatory convertible note redemptions due in May 2027.
Arrovest has also agreed to purchase listed options for $0.12.
The transaction aims to clear debt hurdles after Noumi struggled to secure alternative refinancing options for its notes on acceptable terms.
The consumer products manufacturer, known for its plant-based milk brands, expects total group adjusted operating EBITDA of $61–63 million.
