Pepper Group
(ASX:PEP) has received an indicative, non-binding proposal from KKR Credit Advisers (US) LLC (KCA) to potentially buy a controlling interest in the firm.
The specialist lender has now entered into an exclusivity agreement with the party and its affiliates.
The transaction involves shareholders potentially receiving $3.60 per share, with the permission for the Directors to declare and pay a fully franked dividend of up to 3 cents per share.
Pepper granted KCA to undertake due diligence and potential to negotiate definitive transaction documents for the proposal.
Shares in Pepper Group
(ASX:PEP) are trading 7.47 per cent lower to $3.47.
