Ingenia Communities Group (ASX:INA) announced on November 10, 2026, that AVID Property Group Holdings Pty Ltd has exercised its matching right under their existing process deed, providing a further revised non-binding indicative proposal for $5.55 cash per stapled security. Ingenia Communities Group is a leading operator, owner, and developer of communities offering quality affordable rental and holiday accommodation focused on the growing seniors’ market in Australia. This updated offer from AVID comes in direct response to a revised, non-binding indicative proposal from Warburg Pincus LLC and its co-investors, Discovery Parks Holdings Pty Ltd and LDR Capital Pty Ltd.
AVID’s latest offer represents an increase from its previous proposal of $5.45 cash per stapled security and now matches the total consideration presented by the Warburg Pincus consortium. Under the Further Revised AVID Proposal, Ingenia securityholders would receive up to $5.60 cash per stapled security, as the $5.55 offer price will not be reduced by any permitted distribution of up to $0.05 for the half year ending December 31, 2026. Following consideration, the Ingenia Board has determined, in good faith and in accordance with the AVID Process Deed, that the Further Revised AVID Proposal would provide an equal or superior outcome to Ingenia securityholders as a whole, ensuring the AVID Process Deed (as amended) remains active.
In connection with this matched proposal, AVID has agreed to amend the AVID Process Deed. Key amendments include an additional exception to the ‘no talk’ and ‘no due diligence’ restrictions, permitting a competing bidder to retain due diligence access for four days after a matching proposal is made. Furthermore, the exclusivity end date has been extended to December 14, 2026. As a result, Warburg Pincus, along with Discovery Parks and LDR Capital, will retain access to Ingenia’s due diligence until November 13, 2026. However, the Ingenia Board has not determined that the Further Revised AVID Proposal constitutes a ‘Bidder Superior Proposal’ under its scheme implementation deed with Peet Limited (Peet SID).
Ingenia stated it continues to comply with its obligations under the Peet SID and is working with Peet towards the implementation of Ingenia’s proposed acquisition of Peet. The Board has not indicated any intention to recommend the Further Revised AVID Proposal to its securityholders. Ingenia also cautioned that there is no certainty that either the Further Revised AVID Proposal or the Warburg Pincus proposal will result in a formal binding offer, and securityholders are not required to take any action in relation to these indicative proposals at this stage.
