Australia’s largest residential aged care provider Opal HealthCare has found itself a motivated core-plus infrastructure buyer as non-binding bids land in the hands of sell-side adviser Morgan Stanley.
Street Talk understands Pacific Equity Partners′ gun secure assets team, which is bidding for Healius′ $700 million X-ray and ultrasound division Lumus Imaging, has lobbed a non-binding indicative offer for the $200 million a year business.
Investors including Singapore’s GK Goh Holdings and AMP Capital funds drafted Morgan Stanley earlier this year to court buyers and run a two-part auction for a 50 per cent stake in the operator.
Sources said indicative bids were due earlier this month. PEP SAF II, which is led by Andrew Charlier and Evan Hattersley, is understood to have tapped the Michael Stock-led Jefferies Australia to advise.
Read the full story tomorrow and more on the Street Talk page.
From the column
Perpetual orders temperature checks on register ahead of AGM
Oracle-backed chipmaker Ampere explores potential sale, Bloomberg reports
The chart
Proxy solicitation firm Morrow Sodali began polling Perpetual’s retail investor base on Tuesday with an online survey before the AGM. The company is working hard to convince shareholders its $2.2 billion deal with KKRis a good idea.
Best and worst
Australia’s sharemarket reset a record high for the fourth straight session on Thursday after the first interest rate cut from the US Federal Reserve in more than four years and as investors rotated money into the beaten-up mining sector.
