UK - Permira to acquire Just Retirement for £225m

In 2006, the company was floated on AIM at 148 pence per share, almost twice the 76 pence per share offer Permira has made. The price, however, is still 9.4% above Thursday's closing price.

In June, Permira announced plans to acquire the 52% stake owned by Langholm Capital. The offer has now been extended to the rest of the shareholders in the business.

Permira reportedly intends to inject £25m of equity into Just Retirement upon completion of the deal. The private equity firm's offer also includes a provision for senior managers to maintain an ongoing stake in the company.

Just Retirement made a pre-tax loss of £3m for the year ending 30 June, compared with a £12m profit last year.

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• Buyouts
• UK / Ireland