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.

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