SVG Capital (SVG) has received a fresh offer this afternoon from a group of investment funds that include Goldman Sachs and Canada Pension Plan Investment Board for all of its assets.
In a fresh twist to the ongoing saga that has seen SVG subject to a hostile takeover approach from US private equity fund HabourVest, an announcement was made this afternoon that the company had received an offer for 100 per cent of the company investments.
This compares to the HabourVest offer, which is for 100 per cent of the shares of the company.
"The proposal is being evaluated urgently by the company and the board will update the market as soon as possible. The board continues to recommend that shareholders do not accept HarbourVest Bidco's offer. There can be no certainty that the proposal will be effected or as to its terms," SVG said in a statement.
SVG did not provide a valuation attached to the offer.