As announced to the ASX:

Link Administration Holdings Limited (ASX: LNK) (Link Group) confirms it received an offer from Kohlberg Kravis Roberts & Co. L.P. for and on behalf of funds and/or investment vehicles managed and/or advised by it (together with its affiliates, KKR) on 27 May 2021 as part of the previously announced trade sale for Link Group’s 44.18% share of PEXA1 (Proposal).

The Proposal represents an Enterprise Value for 100% of PEXA at $3 billion plus cash on the balance sheet as at date of settlement, noting cash on the balance sheet as at 31 March 2021 was $126 million.

The Proposal is conditional on:
-Agreement on transaction documentation, including a Sale and Purchase Agreement;
-Foreign Investment Review Board approval and relevant approvals from the State land registries; and
-Agreement by PEXA shareholders to a number of actions and waivers under the existing PEXA Shareholders’ Deed and to the IPO not proceeding.

KKR advised that the Proposal remains open and capable of acceptance until 5:00pm on Sunday 30 May 2021. KKR also advised that Domain Holdings Australia Limited is expected to partner with KKR.

announcement continues …. [Full announcement at ASX]