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EQT Infrastructure withdraws offer to acquire Australia's Vocus

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EQT Infrastructure withdraws offer to acquire Australia's Vocus

EQT Infrastructure, a fund managed by private equity firm EQT Partners AB, is no longer interested in a A$5.25 per share acquisition of Vocus Group Ltd., according to a June 4 news release.

The decision comes after EQT conducted its due diligence on the Australian company.

In addition to EQT, AGL Energy Ltd. has also recently decided to withdraw its offer to acquire Vocus.

Vocus reiterates that its EBITDA for fiscal year 2019 is anticipated to be between A$350 million and A$370 million, based on earlier released guidance.

The company will hold a strategy update for its investors during the last week of June.