Macquarie buying Vocus, owner of Orcon and Slingshot, heading off NZX listing
9 Mar, 2021 04:37 AM
4 minutes to read
Macquarie has entered an agreement to buy ASX-listed Vocus Group - owner of Orcon and Slingshot on this side of the Tasman - in a A$3.5 billion ($3.7b) deal, subject to investor and regulatory approval.
The ASX-listed investment banking and infrastructure investment firm teamed with Aware Super - Australia s second-largest retirement fund - on its $5.50 per share offer.
In recommending shareholders accept the deal - set to close in July if all approvals go to plan - Vocus chairman Bob Mansfield said in a statement to the ASX that the board had considered it against alternatives, including pressing ahead with the plan to list Vocus NZ business, then use the estimated $722 million proceeds to pay down debt.
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