SG Fleet Enters Exclusive Takeover Talks with Pacific Equity Partners; Shares Climb 22%

MT Newswires Live11-25

SG Fleet Group (ASX:SGF) confirmed that it is in exclusive talks with Pacific Equity Partners in relation to the latter's non-binding and indicative takeover proposal for the company, according to a Monday filing with the Australian bourse.

Pacific Equity Partners is offering to acquire all of the shares in SG Fleet at AU$3.50 apiece, the filing said. The period of exclusivity will expire on Nov. 29.

SG Fleet said there is no certainty that the indicative proposal will result in a transaction.

The fleet management and vehicle leasing company's shares surged 22% in recent Monday trade.

Price (AUD): $3.26, Change: $+0.59, Percent Change: +22.10%

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