Bain Capital Private Equity, LP offered to acquire Estia Health Limited (ASX:EHE) for approximately AUD 780 million on March 23, 2023. Bain Capital Private Equity, LP entered into a scheme implementation agreement to acquire Estia Health Limited (ASX:EHE) for approximately AUD 840 million on August 7, 2023. As per the terms, the offer price per share is AUD 3. As of June 7, 2023, Bain Capital Private Equity, LP and Estia Health Limited entered into revised non-binding proposal to increase the offer per share price to AUD 3.20.

Transaction is subject to Estia Health board, approval by court, approval by shareholders of Estia Health Limited, approval of Bain Capital's Investment Committee and approval of the Foreign Investment Review Board. Estia Health recommended its shareholders that they do not need to take any action in relation to the Indicative Proposal. As of August 7, 2023, the transaction is approved by board of directors of Estia Health Limited.

As of April 4, 2023, Estia Health has offered Bain Capital a limited period of access to certain non-public financial and other information on a non-exclusive basis. The provision of this information is subject to certain conditions, including the signing of an appropriate confidentiality and standstill agreement. As of November 28, 2023 Bain Capital, LP has today confirmed to Estia Health that they received formal FIRB approval.

As of December 5, 2023 Supreme Court of New South Wales approved the transaction. As of December 6, 2023, the transaction becomes legally effective. The transaction is expected to close in December 2023.

UBS acted as a financial advisor to Estia. Morgan Stanley (NYSE:MS) acted as a financial advisor to Bain capital. Allens acted as legal advisor to Bain Capital Private Equity, LP.