Pepper receives bid from KKR
Non bank lender Pepper has attracted a bid of $3.60 a share from private equity firm KKR's credit arm.
Non bank lender Pepper has attracted a bid of $3.60 a share from private equity firm KKR's credit arm.
Only 15 of 75 lending institutions have increased the interest rate on any of their term deposits since August, when the RBA cuts rates to a record low of 1.5 per cent.
Vocus Group has granted its private equity suitor KKR non-exclusive due diligence.
Private equity has picked up another big Australian car dealership group.
KKR is in advanced negotiations to buy listed non-bank lender Pepper Group.
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Vocus Group and its bankers clearly want to leave no stone unturned in assessing KKR's $3.50 a share indicative bid.
Backdoor listed tech stocks, particularly those from Silicon Valley, aren't exactly flavour of the month at the moment.
The banks have rallied hard on the back of their successful defence against the South Australian bank tax.
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