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Abano Healthcare's
Scheme of Arrangement

  • Cameron Partners, together with our alliance partner Rothschild & Co, jointly advised Abano Healthcare on its Scheme Implementation Agreement (SIA) with BGH Capital and Ontario Teachers’ Pension Plan Board

  • Abano is one of the largest dental services groups across Australia and New Zealand, operating as ‘Lumino the Dentists’ in New Zealand and ‘Maven Dental Group’ in Australia

  • The Scheme price is at NZ$5.20 per Abano share and the SIA removes the right for the purchaser to terminate the Scheme if a ‘material adverse change’ occurs. Instead, the Scheme price is subject to specified price reductions, up to a maximum of 75 cents per share, if any one of a number of defined Adjustment Events occurs

  • The price of NZ$5.20 per share represents a 99% premium to Abano Healthcare’s share price of $2.61 prior to announcing the transaction and values Abano’s equity at NZ$137m, with an estimated enterprise value of NZ$269m