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FleetPartners Group Receives AU$3.85 per Share Acquisition Proposal From Sumitomo Consortium

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FleetPartners Group (ASX:FPR) received a non-binding proposal from a consortium comprising Sumitomo Corp. and Sumitomo Mitsui Auto Service to acquire the company for AU$3.85 per share in cash, according to a Wednesday filing with the Australian bourse.

The latest offer follows earlier acquisition proposals from SG Fleet Topco, Element Fleet Management, and Orix.

FleetPartners said it is ready to provide the Sumitomo consortium access to initial limited commercial and financial due diligence, as it has done with the earlier proposals.

There is no certainty that any of the proposals will result in a binding offer, the company said.

Its shares fell 1% in recent Wednesday trade.

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