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A listed private equity fund of funds

13 August 2018

On 6 June 2018 the Company announced that it and Mercantile OFM Pty Limited had entered into an Implementation Agreement under which Mercantile proposed a conditional off-market takeover bid for all IPE shares at A$0.0775 per share.  The offer formally commenced on 4 July 2018 and on 3 August Mercantile announced that it had achieved a controlling position and that the offer was unconditional.  As a consequence, the current Board of Directors will be replaced and the current management agreement terminated.  The future of the Company will be reviewed by the incoming Directors.

 

IPE Limited (IPE) is a listed investment company focused on investing in funds managed by experienced Australian and New Zealand private equity firms that utilised various strategies to fund the growth and development of unlisted businesses.  The Company has been winding down its activities for a number of years and the portfolio continues to shrink as those underlying businesses are sold by their private equity owners.  IPE was originally named ING Private Equity Access Limited (ING PEAL) but shareholders approved a name change on 31 October 2013. Read More  

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