Powered by MOMENTUM MEDIA
SUBSCRIBE TO OUR NEWSLETTER SIGN UP
Powered by MOMENTUM MEDIA

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

Pepper Group in takeover talks

newhandshake newhandshake
Reporter 5 minute read

Pepper Group Limited has confirmed that it has received an indicative non-binding proposal from KKR Credit Advisors (US) LLC (KCA) in relation to entering into an exclusivity agreement.

According to Pepper's group general counsel and company secretary John Williams, the group has received a non-binding proposal from the American investment management firm "on behalf of itself, certain of its affiliates and/or certain funds, clients or accounts managed or advised by KCA, or its affiliates" in relation to a potential control transaction.

The transaction could see shareholders receive $3.60 per share and with permission for the directors to declare and pay a fully-franked dividend of up to $0.03 per share.

Pepper has said that it has granted exclusivity to KCA to enable it to undertake due diligence and potentially to negotiate definite transaction documents in respect to the proposal.

Advertisement
Advertisement

However, it emphasised that talks were ongoing and that an agreement was yet to be reached.

In the announcement, Mr Williams said: "The negotiations are incomplete and any entry by the parties into binding transaction documents remains subject to a number of conditions, including (without limitation) the completion of due diligence of KCA and agreement of terms by the parties.

"There is no certainty that an agreement will be reached or that the proposal will be implemented."

He added that Pepper has established an independent board committee to consider the proposal and any potential agreements with KCA.

Pepper has not released any further comment but has said it will "keep the market informed" in due course, in accordance with its continuous disclosure obligations.

PROMOTED CONTENT


 

Pepper Group in takeover talks
newhandshake
TheAdviser logo

If you have ever considered how you could better service your SME clients but lack the knowledge or confidence to do this beyond referring them on, this is a must-attend event for you. Don't miss SME Broker Bootcamp, a jam-packed, free-to-attend, practical workshop. Register today and secure your place at this interactive, flexible, must-attend event.

newhandshake

 

more from the adviser
money grants

Breaking News

Flood relief assistance extended to Somerset Region

Queensland and federal government-funded grants of up to $50,000 ...

flood water ta

Breaking News

Natural disaster preparedness inquiry launches for small business

An inquiry into small-business natural disaster preparedness and ...

applause clap

Breaking News

Simplicity Loans & Advisory reaches $2bn milestone

The brokerage’s co-managing directors believe this settlement f...