Investor Presentation - INA's Proposed Acquisition of PPC

Key points

• Ingenia proposes to acquire Peet for a total value of $2.185 per share
• Peet shareholders to receive $0.68 per share in cash and 0.3367 Ingenia stapled securities
• Combined Group expected to be the 13th largest ASX-listed real estate player

Full summary

Ingenia Communities Group has announced its intention to acquire Peet Limited through a Scheme Implementation Deed, offering Peet shareholders a total value of $2.185 per share. This includes $0.68 per share in cash and 0.3367 Ingenia stapled securities. The acquisition aims to create the largest pure-play living sector platform, combining Peet's high-margin develop-to-sell land business with Ingenia's land lease development and rental income business. The combined entity is expected to benefit from enhanced scale, diversification, and improved cost of capital, with increased liquidity and market relevance.

Guidance

Combined Group expected market capitalisation of over $2.4bn

Outlook

The acquisition is expected to create significant value for Peet shareholders through enhanced scale, diversification, and improved cost of capital. The combined entity will benefit from a more diversified earnings profile and a lower cost of debt.