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Link Group allows due diligence on BCM business bid

 — 1 minute read

The data administrator has provided an update on a bid for its banking and credit management (BCM) business.

On Wednesday, Link Group confirmed that a syndicate led by Pepper European Servicing Limited (PES) will be given access to due diligence on an exclusive basis to 17 December 2021.

The syndicate's proposal to acquire Link Group’s whole BCM business is for up to $86.5 million.

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The news comes just days after the company updated shareholders on a proposal by global investment firm Carlyle to acquire 100 per cent of Link Group's shares, with the board saying on Monday that is open to the bid pending a “revised proposal”.

“The board consider that it is appropriate to provide Carlyle with due diligence information on a non-executive basis so that it can develop a revised proposal that is not subject to further due diligence and may be capable of being recommended to shareholders,” a statement released by Link Group on Monday read.

“The due diligence information will be provided subject to extension of the confidentiality agreement between Link Group and Carlyle, including the standstill.”

Link Group has reiterated that there is no certainty that the proposal will eventuate.

 

Link Group allows due diligence on BCM business bid

The data administrator has provided an update on a bid for its banking and credit management (BCM) business.

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Neil Griffiths

Neil Griffiths

Neil is the Deputy Editor of the wealth titles, including ifa and InvestorDaily. 

Neil is also the host of the ifa show podcast.

 

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