Sumitomo heats up bidding war for Australia's FleetPartners with $582 million offer
25/08/2026 23:56
Sumitomo heats up bidding war for Australia's FleetPartners with $582 million offer Aug 26 (Reuters) - FleetPartners FPR.AX said on Wednesday it has received a takeover offer from a consortium led by Japan's Sumitomo Corp 8053.T, valuing the Australian vehicle lease provider at A$813.1 million ($582.26 million).
The Sumitomo-led offer escalates the takeover contest into a four-way battle with Japanese financial services firm ORIX 8591.T, Pacific Equity Partners-backed SG Fleet, and Canada's Element Fleet EFN.TO.
($1 = 1.3965 Australian dollars)
(Reporting by Sameer Manekar in Bengaluru; Editing by Leroy Leo)