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Private equity buyer makes play for Bravura

By Reporter
 — 1 minute read

A private equity investor has made a proposal to buy global wealth management software and technology company Bravura Solutions.

In a statement to the Australian Securities Exchange this morning, Bravura announced it had yesterday received an “indicative, non-binding, conditional proposal” from Ironbridge Capital to acquire all the outstanding shares and options in the company.

Under the proposal Ironbridge would offer $0.28 cash per Bravura share, less the amount of any dividend declared by Bravura prior to implementation of the scheme proposal.

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Bravura said it previously received an initial unsolicited, non-binding and conditional proposal from Ironbridge on 6 May.

According to Bravura the $0.28 per share offer represents a premium of 65 per cent to the company’s closing price on 27 June of $0.17.

Bravura said it had agreed to offer Ironbridge a period of exclusivity until midnight on 17 July, but there is no certainty the transaction will proceed.

InvestorDaily understands that Ironbridge already has a 60 per cent share in Bravura and the proposal is to acquire the remainder.

 

 

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Private equity buyer makes play for Bravura
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