Insignia grants competing PE bidders an extension | Australian Markets
The competing personal equity bids for Insignia Financial stay on foot with Insignia granting the 2 events an extension of their unique due diligence period.
Insignia has introduced to the Australian Securities Exchange (ASX) that it had granted the extension in response to requests from each bidders – Bain Capital and CC Capital Partners.
It stated the extension is to permit the bidders to finalise debt funding and related due diligence, and finalisation of the Scheme Implementation Deed types.
However, the ASX announcement stated there may be no certainty that both proposal will end in any transaction being put to Insignia shareholders for consideration.
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