Regatta Capital is considering an indicative, non-binding off-market bid for Peet Limited at A$2.20 per share, excluding Peet’s 6.5-cent dividend. Including that dividend, the effective value would be A$2.265 per share.
The proposed bid would be subject to a minimum acceptance condition of 90%.
A platform for long-term growth
Regatta believes that the combination of Peet’s land bank, capital and access to strategic partnerships could support the expansion of the business.
If successful in acquiring Peet, Regatta intends to conduct a strategic review with existing management to identify growth opportunities. Regatta’s proposed role would be at a strategic level, with existing management retained to implement any plans developed.
Proposed transaction structure
The proposed acquisition vehicle is Regatta Capital Land Holdings Pty Ltd, a subsidiary of Regatta Capital Group. Funding would come from a combination of equity and debt facilities held by the group.
The proposal remains indicative and non-binding. It does not represent a completed acquisition.
About Regatta Capital
Regatta Capital Group (RCG) is an Australian-owned and controlled group of companies established in 2005, investing across property, construction funding, infrastructure, renewable energy and growth capital. RCG provides flexible, long-duration capital to support the development and delivery of major Australian projects.
Enquiries
For further information, contact Regatta Capital .
