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Ingenia Communities Agrees to Buy Peet for $1 Billion

Ingenia Communities Group logoIngenia Communities Group
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Peet Limited logoPeet Limited
Sig3.40Sen+3.00Env0.00Soc0.00Gov0.00

Ingenia Communities Group has agreed to acquire Peet Limited to build one of Australia’s largest residential construction platforms, valuing the deal at $1 billion. Ingenia also signed a partnership agreement under which Brown-Neaves Investments will buy a 49.9% stake in Peet’s Flagstone City project for $615 million. The transaction is subject to regulatory approval.

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