Estia Health’s share register has been blown wide open after its biggest shareholder Seven Group sold its blocking stake.
Estia Health’s share register has been blown wide open after its biggest shareholder Seven Group sold its blocking stake to end a six-year stay at the residential aged care operator.A targets, and as private equity firms search for ways to spend their warchests, Seven Group’s put Estia Health back on potential suitors’ radars by clearing out in a trade via Macquarie’s institutional equities desk at the end of last week.
The sale leaves the likes of Wilson Asset Management, Copia Investment Partners and Perpetual as Estia Health’s biggest shareholders. Seven Group declined to comment on the trade. It started accumulating the stake in 2016, having been attracted by . The Ryan Stokes-led company held the stake via its dwindling listed investment portfolio, which is used to hold minority and non-controlling positions.bulk of its stake was picked up at an average price of $3.24 a share six years ago,The sale comes as financial and trade buyers have taken another look at snapping up Australia’s listed aged care groups Estia, Japara Healthcare and Regis Healthcare.
The interest saw Estia’s rival Japara acquired by Little Company of Mary Health Care in November 2021. Japara also attracted bids from Bolton Clarke Group, while Regis Healthcare had an offer from
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