Australia's SG Fleet in talks with Pacific Equity Partners for $776.7 million buyout offer (updated)

SG Fleet

24/11/2024 22:45

(Adds further details on the proposal from paragraphs 2
onwards)
       Nov 25 (Reuters) - Australia's SG Fleet  SGF.AX  said on
Monday it was in discussions with private equity firm Pacific
Equity Partners regarding a non-binding and indicative takeover
offer for A$1.19 billion ($776.71 million).
    Under the proposal, Pacific Equity Partners will pay A$3.50
per SG Fleet share, a 31.1% premium to the mobility solutions
provider's last close on Friday.
    SG Fleet has granted the private equity firm a period of
exclusivity until Friday. It said there is no certainty that the
proposal will result in a binding deal.
        
  
($1 = 1.5321 Australian dollars)

 (Reporting by Sherin Sunny in Bengaluru; Editing by Lisa
Shumaker)
 ((Sherin.Sunny@thomsonreuters.com;))