Avid Property to take over Villa World

Avid Property to take over Villa World
Avid Property to take over Villa World

Queensland residential developer Villa World has agreed to be taken over by private equity-backed Avid Property.

Avid have offered a cash offer price of $2.34 per share in its revised proposal.

Born out of Investa Land, Synnot Street is a diversified Australian property development business with a $3 billion portfolio of residential, industrial and commercial projects.

The board of directors of Villa World unanimously recommend that its shareholders vote in favour.

The $2.34 per share represented a 17.8% premium to the Villa World closing share price of $1.99 on 14 March 2019.

Since 1986, Villa World has created over 19,000 properties across Australia with more than 45,000 Australians calling a Villa World address their home.

The company has been operating as a listed entity for over 30 years.

Tags: 
Residential Development Takeover

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