Wednesday 16th December 2020
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On 26 October 2020, Infratil Limited announced that it had executed a conditional binding offer to acquire up to 60% of Qscan Group Holdings Pty Ltd (“Qscan”) from Quadrant Private Equity (“QPE”) and existing doctor and management shareholders, for total cash equity consideration of up to A$330 million. Infratil’s offer was made in conjunction with the Morrison & Co Growth Infrastructure Fund (“MGIF”), which conditionally offered to acquire up to ~15% of Qscan.
Infratil notes that it has made good progress towards obtaining approval from the Foreign Investment Review Board of Australia, but the condition has not been fully satisfied at this stage. Infratil remains optimistic that approval will be granted and completion of the transaction will occur this calendar year.
Infratil expects that its ownership stake in Qscan will be approximately 56%, which will be finalised as part of completion.
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