Australia’s AVID Property Group offers $198.5 mln for Villa World

03/18/2019 6:08:00 AM (GMT)

Australian real estate investment trust AVID Property Group has proposed a takeover offer for property developer Villa World Ltd.

AVID Property Group offered about A$279.1 million ($198.5 million) for Villa World.

AVID noted that its offer of $1.59 per share represents a premium of 12.1 percent to Villa World’s last close.

The takeover offer is being studied by Villa World’s board.

AVID Property Group

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