June 15 (Reuters) - Australia's Centuria Capital Group (CNI) on Monday said it intends to buy the remaining shares of New Zealand's Augusta Capital Ltd (AUG) for NZ$130 million ($83.5 million), months after pulling its previous takeover offer amid volatile market conditions.
Fund manager Centuria, which owns 23.3% of Augusta, said Augusta shareholders will receive NZ$0.20 in cash and 0.392 of a Centuria stapled security for each Augusta share - an implied offer price of NZ$1 per Augusta share.
The implied price represents a 46% premium to Augusta's last close on June 12.
Centuria in January aimed to buy 100% of Augusta with a cash and stock offer of NZ$2 per Augusta share. It withdrew the bid in March due to volatile market conditions and economic disruption brought about by the coronavirus outbreak, which caused far-reaching commercial and social restrictions.
It subsequently bought a 23.3% stake in Augusta in May via a capital raising.
Both Australia and New Zealand have since eased the restrictions and markets conditions have become relatively stable.
Augusta shares jumped as much as 40% to NZ$0.96 following Centuria's announcement. It recommended its shareholders to not take any action on the offer.
($1 = 1.5567 New Zealand dollars)
June 15 (Reuters) - Australia's Centuria Capital Group (CNI) on...
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Last
$2.30 |
Change
-0.010(0.43%) |
Mkt cap ! $1.909B | |||
| Open | High | Low | Value | Volume |
| $2.31 | $2.31 | $2.26 | $3.399M | 1.487M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 50000 | $2.29 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.30 | 22484 | 5 |
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| Last trade - 16.10pm 10/09/2025 (20 minute delay) ? |
| CNI (ASX) Chart |