Link obtains a new offer for banking and credit management activities

By Alice Uribe

SYDNEY – Link Administration Holdings Ltd. confirmed its forecast for fiscal year 2022 and said it had received a new proposal to purchase its banking and credit management activities.

The company said Tuesday that trading during its fiscal year has so far been strong and above expectations, which has bolstered management’s belief in meeting its annual targets.

Link confirmed his forecast for low-digit revenue growth and that operating profit before interest and tax would be broadly in line with fiscal 2021 with a positive outlook.

The company said it received another unsolicited offer to acquire its BCM business, this time from European firm LC Financial Holdings.

The indicative, conditional and non-binding proposal involves the acquisition of BCM for a maximum amount of 65 million euros (73.1 million US dollars). The proposal includes an upfront payment of EUR 50 million plus a deferred payment of EUR 15 million if certain targets are met.

Link had previously received a proposal for his BCM unit from a union run by Pepper European Servicing Ltd.

Link said Carlyle Group Inc., which proposed to acquire Link, and its advisors now have access to a virtual data room and a question-and-answer process. They also had access to Link’s management team.

Write to Alice Uribe at [email protected]

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