October 2, 2019 / 10:39 PM / a month ago

Australia's Webster enters deal for $572 million buyout by Canadian pension manager

Oct 3 (Reuters) - Agri company Webster Ltd said on Thursday it signed a binding agreement to be acquired by a Canadian pension investment manager at an enterprise value of about A$854 million ($572.52 million).

Under the scheme implementation agreement, units of Canada’s PSP Investments will acquire all the ordinary and preference shares in Webster that it does not already own, for $2.00 in cash per share. Including the ordinary and preference shares it will buy, the offer price represents an enterprise value of about A$854 million, Webster said in the statement.

$1 = 1.4916 Australian dollars Reporting by Rashmi Ashok in Bengaluru Editing by Leslie Adler

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