Australia's Domain Holdings falls as Link Administration rejects PEXA deal

PExA AB

31/05/2021 02:44

** Shares of Domain Holdings Australia  DHG.AX  fall as much
as 3.8% to A$4.86, their biggest intraday pct loss since May 19
    ** The property classifieds operator says it was no longer
bidding for a 10% stake in PEXA, after being notified that
PEXA's sale process had been dropped  urn:newsml:reuters.com:*:nL2N2NH0K1
    ** Co was part of consortium with U.S. private-equity giant
KKR & Co  KKR.N  that offered more than A$3 bln ($2.32 bln) for
PEXA
    ** Says co is notified that sale process is no longer being
pursued
    ** Link Administration  LNK.AX , a top shareholder of PEXA,
says it will take online real estate company public, effectively
rejecting KKR & Co's takeover bid for the unit
    ** Stock is amongst the biggest percentage loser in the
S&P/ASX 200 index
    ** Stock up 12.5% this year, as of last close, compared with
a 9% increase in the benchmark ASX200 index  .AXJO  

    ($1 = 1.2955 Australian dollars)

 (Reporting by Savyata Mishra in Bengaluru)
 ((Savyata.mishra@thomsonreuters.com))