October 9, 2018 / 9:44 PM / a month ago

Australia's Navitas gets A$1.97 bln offer from consortium

Oct 10 (Reuters) - Australian education firm Navitas Ltd on Wednesday said it received an A$1.97 billion ($1.40 billion) buyout offer from a consortium consisting of private equity firm BGH Capital Pty Ltd, fund manager AustralianSuper Pty Ltd and top shareholder Rodney Jones.

The consideration offers Navitas shareholders A$5.50 cash per share or, alternatively, A$2.75 per share and one ordinary share in a new unlisted company called RollCo for every two shares held in Navitas.

The A$5.50 per share quote represents a 26.4 percent premium as of last close. ($1 = 1.4079 Australian dollars) (Reporting by Devika Syamnath in Bengaluru Editing by James Dalgleish)

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