Australia’s AVID Property Group offers $197.7 mln for Villa World

03/15/2019 3:22:00 PM (GMT)

Australian property developer AVID Property Group Australia Pty Ltd has offered to acquire Australian rival Villa World Ltd.

Villa World received a A$279.1 million ($197.7million) conditional takeover offer from AVID Property.

AVID offered $1.58 per share representing a premium of 12.1 percent to Villa World’s last close.

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

AVID Property Group

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