FleetPartners Receives New Proposal from Consortium
Key points
- Received new non-binding proposal from Sumitomo and SMAS
- Proposal offers $3.85 per share
- Board to provide due diligence access
- No certainty of binding offer or transaction
Full summary
FleetPartners Group Limited has received a non-binding proposal from a consortium comprising Sumitomo Corporation and Sumitomo Mitsui Auto Service Company, Limited to acquire all outstanding shares for $3.85 per share. The proposal is subject to conditions, including no dividends post-proposal. The FleetPartners Board is prepared to provide due diligence access, subject to confidentiality agreements. The Board will continue to assess all proposals and engage with potential buyers.
Outlook
FleetPartners will continue to evaluate all proposals and engage with potential buyers to determine the best interests of shareholders.
Sign in for more about this company, including guidance changes and other insights.
Sign in