Australia’s Soul Patts to takeover Brickworks in $9 billion merger

[Pelican Press 0]

This is the hidden content, please

• Sign In
• or
• Sign Up

Australia’s Soul Patts to takeover Brickworks in $9 billion merger

The Washington H Soul Pattinson logo is seen displayed on a smartphone screen.

Sopa Images | Lightrocket | Getty Images

*********** investment company Washington H Soul Pattinson will buy out its building products affiliate Brickworks in a deal valuing the latter at A$4.62 billion ($3 billion), the companies said on Monday.

The deal would merge the companies, and a new Australia-listed firm would be established with an expected valuation of A$14 billion ($9 billion).

Stockholders in Washington H Soul Pattinson would own 72% of the newly formed company. Holders of Brickworks would own 19% while the remainder would be offered to new shareholders.

Soul Patts has a 43% shareholding in Brickworks and Brickworks owns 26% of Soul Patts.

The new entity has received commitments worth A$550 million in shares, fully underwritten by Aitken Mount Capital.

Soul Patts is offering an implied value of A$30.28 for every Brickworks share, a 10.1% premium to the stock’s last close.

This is the hidden content, please

• Sign In
• or
• Sign Up

#Australias #Soul #Patts #takeover #Brickworks #billion #merger

This is the hidden content, please

• Sign In
• or
• Sign Up

This is the hidden content, please

• Sign In
• or
• Sign Up

For verified travel tips and real support, visit: https://hopzone.eu/