Rich Lister and Sydney Roosters chairman Nick Politis has launched a $77 million all-cash takeover bid for ASX-listed Queensland pub and shopping centre owner Eumundi.
SEQ Hospitality, which is half owned by Politis, has entered into a transaction implementation deed to acquire Eumundi at $1.55 cash per share through an off-market takeover and scheme of arrangement.
In the absence of a better offer, Eumundi’s directors, who hold about 43 per cent of the company’s shares, have unanimously recommended the SEQ proposal.
Eumundi chairman Joe Gamin said, “We believe this transaction not only provides shareholders with an attractive exit, but also secures the continued success of Eumundi’s current business operations.”
The company started as a craft brewery in the rural town of Eumundi on the Sunshine Coast.
Its current assets include the Ashmore Tavern on the Gold Coast, the Aspley Tavern, Aspley Shopping Centre and Aspley Arcade Shopping Village, The Plough Inn in Brisbane and The Court House Hotel at Murwillumbah in northern NSW.
Source: The Daily Telegraph.
