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UPDATE 1-Australia's Vocus says KKR makes $1.65 bln takeover approach

Published 07/06/2017, 10:23 am
Updated 07/06/2017, 10:30 am
UPDATE 1-Australia's Vocus says KKR makes $1.65 bln takeover approach
GS
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CSGN
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VOC
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* KKR indicative offer A$3.50 per share vs A$2.86 previous close

* Vocus says considering the offer

* KKR has raised $9.3 bln in Asia buyout fund (Adds Vocus response, KKR comment, shares)

June 7 (Reuters) - Australian telecoms company Vocus Group Ltd VOC.AX said on Wednesday it received an indicative takeover offer from private equity firm KKR & Co LP KKR.N which valued the company at A$2.2 billion ($1.65 billion).

Vocus said KKR made a non-binding indicative offer to buy all its shares for A$3.50 in cash, a 22 percent premium to the stock's closing price the previous day.

The Sydney-listed takeover target said it would consider the proposal, which includes a condition that Vocus's board supports it unanimously, and urged shareholders not to take any action.

A KKR spokesman declined to comment.

Last week, KKR said it had raised $9.3 billion for its most recent Asia-focused buyout fund as it looks for larger deals. to Tuesday's close, Vocus shares had fallen 26 percent this year, while the broader Australian share market is flat. Vocus shares were in a trading halt early on Wednesday.

Vocus said it hired investment banks Credit Suisse (SIX:CSGN) and Goldman Sachs (NYSE:GS) as financial advisers.

($1 = 1.3310 Australian dollars)

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