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Australia's Pepper Group fields $500 mln takeover offer from KKR
July 5, 2017 / 12:14 AM / in 3 months

Australia's Pepper Group fields $500 mln takeover offer from KKR

July 5 (Reuters) - Australian non-bank lender Pepper Group said on Wednesday it has received a A$655 million ($498 million) non-binding takeover offer from U.S. buyout firm KKR Credit Advisors LLC.

The indicative offer of A$3.60 per share is at a 4 percent discount to Tuesday’s closing price of A$3.75.

Pepper said in a statement to the Australian Securities Exchange that it has granted KKR exclusive rights to conduct due diligence, and added that negotiations are incomplete.

A KKR spokesman declined to comment.

$1 = 1.3142 Australian dollars Reporting by Hanna Paul in Bengaluru; Editing by Richard Pullin

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