Key Highlights

  • Ingenia received a further revised non-binding proposal from Warburg Pincus at $5.55 cash per stapled security, plus a permitted distribution of up to $0.05.
  • Peet executed the Flagstone JV implementation deed, under which BNI would acquire 49.9% of Peet Flagstone City Pty Ltd at an agreed inventory value of $615 million.
  • Count Group completed a $25.0 million Placement at $1.57 per share to part-fund a 75% interest in Skybridge Financial Group.
  • Each situation remains subject to conditions, including regulatory approvals, board determinations or settlement steps.

Three ASX-listed companies released transaction-related updates on 6 November 2026. Ingenia Communities Group (ASX:INA) disclosed another revised proposal from Warburg Pincus, Peet Limited (ASX:PPC) reported progress on a joint venture tied to its own scheme with Ingenia, and Count Limited (ASX:CUP) confirmed completion of an institutional placement linked to an acquisition.

Ingenia Receives Another Revised Proposal

Ingenia said it received a further revised, non-binding indicative proposal from Warburg Pincus and co-investors Discovery Parks Holdings and LDR Capital. The offer is $5.55 cash per stapled security for 100% of the group, structured as inter-conditional schemes. Warburg Pincus proposes that the price would not be reduced by a distribution of up to $0.05 for the half year ending 31 December 2026, which would bring the total to as much as $5.60.

The price is $0.10 above the revised proposal from AVID Property Group, made when AVID exercised its matching right under its process deed and announced on 2 November. It also follows an amended Warburg Pincus proposal received on 3 November, which the Ingenia board determined on 4 November was not, and could not reasonably become, a superior proposal under the AVID deed.

The latest offer carries conditions. These include a process deed with exclusivity extended to 14 December 2026, exclusive Due Diligence access by 10 November, a matching-right notice to AVID by the end of 6 November, FIRB and ACCC approvals, binding Debt finance commitments and termination of the scheme implementation deed with Peet. The Ingenia board was scheduled to meet later on the day to consider the proposal. Ingenia has not determined that it is a bidder superior proposal under the Peet deed, and a $10 million reverse break fee would apply if that deed were terminated on those grounds.

Peet Advances the Flagstone Joint Venture

Peet said the Flagstone JV implementation deed with Bechel Pty Ltd (BNI) and Hurose Pty Ltd, BNI's guarantor, has been executed. The deed addresses a condition precedent in the 26 August 2026 scheme implementation deed under which Ingenia proposes to acquire all Peet shares. Satisfaction of that condition now depends only on the remaining limbs of the clause.

If the scheme proceeds, BNI would acquire 49.9% of Peet Flagstone City Pty Ltd from a Peet subsidiary, based on an agreed inventory value of $615 million. Ingenia would retain 50.1% through a Peet subsidiary, which would act as development manager. Hurose holds about 2.18% of Peet shares. Peet has also agreed to contribute $1 million to BNI's costs if the scheme deed ends in circumstances where Peet receives the $10 million reverse break fee and the JV deed remains in force.

Count Group Completes Its Placement

Count Group completed a fully underwritten institutional placement of about 15.9 million new shares at $1.57 each, raising $25.0 million. The price represents a 5.4% discount to the $1.66 close on 4 November. Proceeds will partly fund the Acquisition of a 75% interest in Skybridge Financial Group, which is expected to complete in the third quarter of FY2027 after conditions precedent, including ACCC approval or a notification waiver, are met.

Settlement is scheduled for 11 November, with issue and trading of the new shares on 12 November. The shares rank equally with existing stock, and the issue falls within the company's existing placement capacity, so Shareholder approval is not required. Trading in Count shares was expected to resume at market open on 6 November.

What Comes Next

The three updates share a common feature: each depends on procedural steps still to be completed. Ingenia's board must weigh two competing proposals under separate deeds, Peet's JV is tied to the outcome of its scheme, and Count's acquisition awaits regulatory clearance. Ingenia has stated that securityholders need not take any action at this stage, and further disclosures are expected under continuous disclosure obligations.