SG Fleet Group (ASX:SGF) announced an extension of the exclusivity period regarding its ongoing discussions with Pacific Equity Partners for a potential transaction.
The decision comes after the indicative proposal was disclosed on Nov. 25.
The extension allows both parties an additional week to negotiate the terms of a scheme implementation deed.
SG Fleet advised shareholders to refrain from taking any action concerning the indicative proposal at this time.
The company emphasised that there is no assurance that these discussions will culminate in a transaction.
SG Fleet Group is a provider of integrated mobility solutions, including fleet management, vehicle leasing and salary packaging services. Its segments include Australia, New Zealand, and the United Kingdom.
The company focuses on advanced fleet management capabilities and flexible mobility solutions, and selectively invests in new technologies and business models.
At the time of reporting, SG Fleet Group's share price was $3.33.