Austal Receives Non-Binding Interest from Wildcat for Austal USA
Key points
- Wildcat Infrastructure proposes to buy Austal USA
- Proposed enterprise value: US$1.25-1.35 billion
- Transaction is non-binding, subject to due diligence
- Wildcat plans to retain Austal brand and US operations
Full summary
Austal Limited (ASX: ASB) has announced that it has received a non-binding indication of interest from a syndicate led by Wildcat Resources LLC to purchase Austal USA. The proposed transaction values Austal USA at US$1.25-1.35 billion on a cash and debt-free basis. The offer is conditional upon completing four weeks of due diligence. Wildcat intends to operate Austal USA as a standalone entity, retaining the Austal brand and the company's US operations. The board and its advisors will evaluate the transaction. This announcement has been approved and authorized for release by Austal's CEO, Paddy Gregg.
Outlook
The board and its advisors will consider the transaction proposed by Wildcat.
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