Navitas in trading halt ahead of deal with private equity group BGH

Navitas is expected to announce it has signed a binding agreement to be acquired by private equity firm BGH Capital and the nation’s biggest super fund, AustralianSuper, in a cash deal valuing the global education group at $2.1 billion.

Navitas went into a trading halt on Thursday after a report said the parties had reached an agreement. The consortium had been conducting due diligence since January when it returned to the table with a sweetened offer for Navitas.

Navitas chairman, Tracey Horton.

Navitas chairman, Tracey Horton.Credit:Philip Gostelow

BGH, AustralianSuper and former Navitas chief executive Rod Jones, lifted their cash bid for the global education group to $5.825 a share, for the shares not owned by the consortium. AustralianSuper and Mr Jones already own 18 per cent of the stock.

Navitas shares, which hit a three-year high of $5.76 this month, last traded at $5.62.

Источник: Theage.com.au

Источник: Corruptioner.life

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