Greencross confirms private equity talks

Greencross confirms private equity talks

National vet care provider Greencross (ASX: GXL) has confirmed reports in the Australian Financial Review that it is in discussions for a potential private equity deal.

Last night the publication reported Greencross was in the crosshairs of a buyer, speculating it may be from previous suitor TPG and BGH Capital.

In today's announcement, Greencross said the proposals were subject to a number of conditions and were non-binding and incomplete.

"Greencross confirms it has received and is engaging with a number of parties regarding credible proposals," the company said.

"The proposals are required to be kept confidential, and there is no certainty that any proposal will result in a transaction involving Greencross, what the terms of any such offer would be, or whether there will be a recommendation by the Board of Greencross."

GXL shares rose by more than 18 per cent yesterday to reach $4.88.

Never miss a news update, subscribe here. Follow us on Facebook, LinkedIn, Instagram and Twitter.

Business News Australia

Get our daily business news

Sign up to our free email news updates.

 
Unpacking equity: Finding your funding fit
Partner Content
Armed with a growing business and a great opportunity, a business owner’s next challe...
Australian Business Growth Fund
Advertisement

Related Stories

Big-name retailers among buyers interested in scooping up Godfreys Group

Big-name retailers among buyers interested in scooping up Godfreys Group

Buyers have begun circling embattled vacuum cleaner retailer G...

More tradies chasing fewer jobs drives Hipages to $3.7m profit

More tradies chasing fewer jobs drives Hipages to $3.7m profit

More tradies competing for fewer jobs has propelled online tradie m...

Universal Store profit up 17pc on productivity gains despite inflationary pressure

Universal Store profit up 17pc on productivity gains despite inflationary pressure

Now with 100 stores to its name across several brands, Universal St...

Scentre Group retailers post record sales in 2023 as foot traffic spikes

Scentre Group retailers post record sales in 2023 as foot traffic spikes

A sharp increase in foot traffic at Scentre Group’s (ASX: SCG...