December 2024
Aveo auction heads to second round with big new asset in play
The company has won over big real estate groups such as Lendlease and Dexus for the right to develop the Manly Health and Wellbeing site, people close to the process say.
December 2023
Judge slams law firm for class action
Justice Bernard Murphy slashed the fees Levitt Robinson can charge plaintiffs, which soaked up the entire $11 million settlement with retirement village provider Aveo.
October 2023
Brookfield finalises $1.45b debt refi for Aveo; lenders pile in
The four-year deal was done at 245 basis points above the bank bill swap rate and was meaningfully oversubscribed,
July 2023
Brookfield locks in $1.45b debt refi for Aveo; five banks underwrite
Canadian infrastructure giant Brookfield has locked in a $1.45 billion refinancing for its seniors living business Aveo, which it took private in 2019.
Malaysian billionaire emerges as backer of Bubs’ biggest distributor
Lee Ming Tee is behind the conglomerate that owns InterContinental hotels in Australia, and also appears to be the silent partner in AZ Global.
March 2023
Lawyer’s ‘regret’ as $500m class action settles for $11m
Retirement village giant Aveo has settled a class action in the Federal Court, but residents are unlikely to receive any money.
November 2019
Brookfield takeover of Aveo proceeds to court approval
Shares to be delisted after court approval sought for deal next week.
Brookfield secures support for $2b Aveo takeover
Aveo Group's investors have voted to sell the company to Canadian investment firm Brookfield for $2 billion.
October 2019
Aveo says Brookfield FIRB decision imminent
Takeover target also says sufficient security holders have opted to take scrip, rather than cash.
Brookfield asks banks to help fund $2b Aveo bid
Brookfield is in front of Australia's big four banks and offshore lenders seeking more than $1 billion to buy Aveo.
September 2019
Aveo independent expert recommends $1.3bn Brookfield offer
KPMG report unlikely to calm critics who say the price is too low.
August 2019
Aveo sees 'positive swing' to shareholders favouring Brookfield deal
Hedge funds looking to make a 3c profit from the takeover have jumped on the share register, company says.
Aveo accepts $1.3b Brookfield bid
Trading in shares surge as analysts criticise "opportunistic" takeover proposal.
Aveo puts Brookfield deal at $2.195 a share
The takeover target is talking to the Canadian giant about a deal that values the retirement living operator at just under $1.3 billion.
Brookfield, Aveo scheme final arrangements for $2b-plus deal
Aveo Group's major shareholder is planning to roll its stake into a new Brookfield company, as part of a takeover.
July 2019
Aveo allows more time for Brookfield's takeover plan
Brookfield has emerged as the preferred party to take over retirement village operator Aveo after a lengthy process, but negotiations are still going on.
Aveo sticks with Brookfield in takeover talks
Aveo is holding talks with Canada's Brookfield as the preferred party to take over its retirement village business.
June 2019
Brookfield last one standing at Aveo Group: sources
Canadian investment heavyweight Brookfield is the party in one-on-one talks to acquire Australian listed retirement village owner Aveo Group.
Aveo slumps on profit warning of 'subdued' residential market
Earnings likely to more than halve in the current financial year, retirement living operator says.
April 2019
Aveo says no certainty of deal as sale process hits final stretch
Company seeks to douse speculation of an imminent sale after a Street Talk report.