Ingenia Removes Warburg Pincus From Data Room Following Rival $1.55 Billion Offer

By Stuart Condie

SYDNEY--Australia's Ingenia Communities revoked Warburg Pincus's data-room access after the retirement-village operator received a US$1.55 billion takeover offer from a rival suitor.

Ingenia on Monday said Proprium Capital Partners-owned AVID Property Group had offered 5.35 Australian dollars, equivalent to US$3.76, in cash for each of its ASX-listed shares.

The offer excludes any distribution for the six months through December up to A$0.05 a share, making it effectively worth A$5.40 a share.

Ingenia said it had entered a process deed with AVID and granted it what it called six weeks of soft exclusive due diligence access.

Warburg Pincus's most recent proposal was effectively worth A$5.30 a share. The New York-based private-equity group this month said that represented its best and final indicative offer in the absence of a superior rival bid.

AVID's proposal was backed by a global sovereign wealth fund and a global financial sponsor, Ingenia said.

Write to Stuart Condie at stuart.condie@wsj.com

(END) Dow Jones Newswires

October 25, 2026 19:23 ET (23:23 GMT)