March 14, 2019 / 6:23 AM / in 8 days

Australia's Villa World get $197 mln takeover offer from AVID Property Group

March 14 (Reuters) - Australian property developer Villa World Ltd said on Thursday it received a A$279.1 million ($197.02 million) conditional takeover offer from AVID Property Group Australia Pty Ltd.

AVID’s offer of A$2.23 per share represents a premium of 12.1 percent to Villa World’s last close.

Villa World said in a statement that its board had started studying the proposal. ($1 = 1.4166 Australian dollars) (Reporting by Niyati Shetty in Bengaluru; Editing by Subhranshu Sahu)

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