PEP to buy Australian software player for $367m
Australia’s Pacific Equity Partners (PEP) has agreed to acquire 100% of Sydney-listed enterprise software and IT services provider Citadel for A$503 million ($367.5 million).
The proposed consideration represents an EBITDA multiple of 14.7x and an equity value of A$448.6 million. PEP is willing to pay A$5.70 per share through a scheme of arrangement, a 43% premium to the last...
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