NZ's Warehouse Group receives approach from Aussie private equity firm (updated)

Warehouse

21/07/2024 23:35

(Adds details in paragraph 2-5)
       July 22 (Reuters) - Merchandise retailer Warehouse Group
 WHS.NZ  said on Monday it has received an approach from
Australia-based private equity firm Adamantem Capital Partners
to potentially buy its shares, while advising its shareholders
that the approach did not constitute an "offer." 
    Warehouse's major shareholder, Stephen Tindall, who is also
the company's founder, has joined Aussie investment manager
Adamantem in considering a move to buy shares of the New
Zealand-based retailer, the company said. 
        Tindall now holds about 28.3% of the company, according
to LSEG data. 
  
        Warehouse said it advised its shareholders to not take
any action because no offer or deal has taken place.
  
        As of Friday's close, Warehouse's shares were trading at
NZ$1.1600.  
  
        
  

 (Reporting by Rajasik  Mukherjee
Editing by Chris Reese and Leslie Adler)
 ((Rajasik.Mukherjee@thomsonreuters.com;))