Abacus Group (ASX:ABG) and Abacus Storage King (ASX:ASK) have commenced preliminary discussions regarding a potential proposal to internalise the management functions of the storage giant.
The move, aimed at aligning management structures with securityholder interests, has triggered the formation of Independent Board Committees by both entities to evaluate the transaction.
Under the proposed leadership framework, Steven Sewell would continue as Managing Director of Abacus Group, while Nikki Lawson would be appointed CEO of Abacus Storage King.
While advisors, including Macquarie Capital and King & Wood Mallesons, have been engaged to oversee the process, both boards emphasised that discussions remain at an early stage with no certainty of a final agreement.