Australia's Link gets $73 mln rival bid for banking, credit management unit

  • 11/23/2021
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Nov 23 (Reuters) - Australian shareholder registry firm Link Administration Holdings (LNK.AX) said on Tuesday it received a new unsolicited proposal from Ireland-based LC Financial Holdings (LCFH) to buy its Banking and Credit Management (BCM) business. LCFH proposal, under which the Irish loan broker offered up to 65 million euros ($73.04 million) to buy Link"s BCM unit, comes more than a week after a syndicate led by asset manager Pepper European Servicing offered up to 55 million euros for BCM. Link has granted due diligence to both LCFH and the Pepper European-syndicate. Link is currently considering a sweetened takeover offer of A$2.81 billion ($2.03 billion) by Carlyle Group (CG.O), its second attempt at buying the Sydney-based registry firm, after which Carlyle was granted due diligence information on a non-exclusive basis. Shares in the Australian company rose as much as 1% to A$4.95. ($1 = 0.8899 euros) Reporting by Yamini C S in Bengaluru; Editing by Rashmi Aich

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