In this briefing:
1. Aveo Group (AOG AU): An Emerging Bidding Battle Presents an Opportunity
Aveo Group (AOG AU), an Australian retirement village operator, is amid a strategic review to sell itself. At its 1H19 results on 13 February, Aveo said it had received several non-binding bids from parties interested in acquiring the entire company.
Scepticism on a successful sale remains high as Aveo’s discount to NTA has increased from 44% on 14 August 2018 (the day before the announcement of strategic review) to the current 46%. However, we believe that the widening NTA discount is an opportunity to capitalise on an emerging bidding battle.
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