Navitas offered a buyout from a consortium

Company News

by Rachael Jones

Education company Navitas (ASX:NVT) has received an buyout offer from a consortium consisting of private equity firm BGH Capital, fund manager AustralianSuper and top shareholder Rodney Jones.

The Indicative Proposal would offer Navitas shareholders $5.50 cash per share or, alternatively they could receive consideration of $2.75 cash per Navitas share; and one ordinary share in a newly formed unlisted company that will initially own Navitas (“RollCo”) for every two shares held in Navitas.

The A$5.50 per share quote represents a 26.4 percent premium as of last close.

Shares in Navitas (ASX:NVT) closed 1.14 per cent lower at $4.35 yesterday.

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.