Ingenia Communities receives updated Warburg Pincus bid
Por Mahathir BayenaPontos principais
- Ingenia Communities Group received an amended non-binding acquisition proposal from private equity firm Warburg Pincus.
- The improved proposal values the company at $5.45 per security plus a permitted $0.05 dividend, for a total cash up to $5.50 per security.
- The board continues evaluating the bid while managing matching rights from rival suitor AVID Property Group.
Ingenia Communities Group (ASX:INA) received an amended non-binding acquisition proposal from private equity firm Warburg Pincus offering up to $5.50 per stapled security in total cash value.
The updated offer represents a step up from the initial $4.75 per security proposal submitted by the private equity firm in September.
Under the terms of the proposal, securityholders receive $5.45 per security in cash alongside a permitted half-year distribution of up to $0.05 per security.
The board stated that it will assess whether the proposal delivers superior value to security holders, while the Ingenia Communities Group share price was up at $5.24.
The real estate group focuses on owner-occupied residential communities, land-lease housing developments, and holiday parks across Australia.
The group manages 96 communities and development sites across the country to support the growing seniors living market.
