Private equity group KKR is reportedly in talks to buy non-bank lender Pepper Group.
The global investment firm is preparing an offer to take control of the Pepper Group, according to a report in the Financial Review’s Street Talk.
“KKR is expected to seek to gain control as part of the deal and Pepper would no longer be listed on the Australian Securities Exchange,” the Financial Review says.
A short time ago, Pepper shares were up 3.5% to $3.55, well ahead from the 12 month low of $2.10. The share price values the company at almost $646 million.
At the end of December, Pepper had $52.4 billion in funds under management. The group posted a net profit of $61.6 million in 2016.