Then there was one – Bain out of Insignia race
Bain Capital has fallen out of the private equity race to acquire Insignia Financial, leaving only CC Capital in field.
Insignia Financial announced to the Australian Securities Exchange today that Bain had withdrawn stating that it was unable to proceed to making a binding offer “due to macro uncertainty caused by the volatility in global markets”.
Insignia said it remained in discussions with CC Capital which has advised it is continuing to actively work towards making a binding bid for the company over coming weeks.
Insignia noted that there was no certainty that the ongoing discussions would result in any transaction being put to shareholders for consideration.
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