By Digifin Pty Ltd · About this coverage
Key Points
- Cash consideration of $5.30 per share, implying equity value of about $1.131 billion
- 87.3% premium to the undisturbed close of $2.83 on 31 July 2026
- Price is $0.65 per share above the leading revised non-binding proposals
- Consideration reduced by any FY26 final dividend (up to $0.14) and special dividend (up to $0.12)
- Scheme meeting expected February 2027, implementation in March 2027
About FleetPartners (ASX:FPR)
FleetPartners Group Limited is an ASX-listed fleet management, vehicle leasing and salary packaging company headquartered in Sydney. It provides vehicle financing, fleet management and novated leasing services to corporate, government and individual customers in Australia and New Zealand.
FleetPartners (ASX:FPR) has signed a binding scheme implementation deed to be acquired by SG Fleet, owned and controlled by funds managed and advised by Pacific Equity Partners, after what it describes as a competitive process.
SG Fleet will acquire 100% of FleetPartners shares for $5.30 cash per share by scheme of arrangement, which FleetPartners says implies an equity value of approximately $1.131 billion. The price is an 87.3% premium to the last undisturbed closing price of $2.83 on 31 July 2026 and $0.65 per share above the leading revised non-binding proposals received on 14 September 2026. The consideration will be reduced by any FY26 Final Dividend, of up to $0.14 per share, and any Special Dividend, of up to $0.12 per share, paid before implementation, but not by the value of attached franking credits. The Board unanimously recommends the scheme, in the absence of a Superior Proposal and subject to the independent expert concluding it is in shareholders' best interests. The scheme has no financing or due diligence conditions and is to be funded from existing cash, debt and equity from funds managed or advised by PEP. A reimbursement fee of $11.24 million may be payable to SG Fleet in certain circumstances.
The scheme needs shareholder and Court approval and regulatory approvals including from the Foreign Investment Review Board, the New Zealand Overseas Investment Office, the ACCC and the New Zealand Commerce Commission. Implementation is expected in March 2027. Any dividends remain at the Board's discretion.
Source: FleetPartners Group Limited (ASX:FPR), 19 October 2026. Summary content supplied by Digifin Pty Ltd.
News summary only, not financial advice. It does not consider your objectives, financial situation or needs.