FleetPartners (FPR AU): SG Fleet's A$3.60/Share NBIO

Aug 03, 2026

∙ Paid

Back in 2025, Sydney PE outfit Pacific Equity Partners privatised SG Fleet (SGF AU), an Aussie provider of fleet leasing services: see SG Fleet (SGF AU): 8th April Scheme Vote.
Now SG Fleet has tabled a A$3.60/share NBIO for one of its key competitors, FleetPartners Group (FPR AU).
That’s a 27.2% premium to last close, and ~16% above where Mitsubishi Motors (7211 JP) has built its stake. Expect the ACCC to take a good look at firm terms.

The Trade:

I doubt MMC would kick out at this NBIO price.
Smartgroup Corp (SIQ AU) and Mcmillan Shakespeare (MMS AU) may throw their hats into the ring.
I think (any) firm terms need to be bumped.
Look to enter ~A$3.20-$3.30/share.

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