BAFO alert: One more round for Scape, GIC in $3b Aveo sale
A preferred bidder is set to be anointed at Aveo. Street Talk can reveal Brookfield’s sellside advisers are calling for best-and-final offers (BAFO) for the $3 billion-odd retirement living operator by the end of next week.
It is understood Singaporean sovereign wealth giant GIC and Stephen Gaitanos and Craig Carracher’s fast-growing Scape Australia submitted binding offers last Friday. The bids for Aveo, the country’s second-largest provider behind Lendlease’s Keyton with 6 per cent market share, were said to be close enough in price to warrant a best-and-final stage. Brookfield is expected to release a new process letter as early as Wednesday.
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