No decision for Aveo sale

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Yesterday was the supposed announcement date for a deal between the shareholders and Canadian investment fund Brookfield to sell all or part of the business – but it didn’t occur.

Instead Aveo announced that positive negotiations are continuing, with positive intentions to get the deal done.

For the first time Aveo has noted the negotiation is for a ‘whole of company’ transaction; many believed 24% shareholder Mulpha would be required to stay on the share registry.

The release also hasn’t mentioned that 22 July was supposed to be a ‘drop dead’ date – meaning if a deal had not been done by yesterday, Aveo would have walked away. They did not.

No date has now been identified and Aveo continues to state boldly that the deal could fall over at any time – until it is done.