Pacific Equity Partners is in talks to acquire SG Fleet in a deal valued at over $1 billion

Sydney-based private equity firm Pacific Equity Partners is in talks to acquire ASX-listed SG Fleet. While the terms of the deal have not yet been agreed upon, three sources familiar with the situation said talks were “progressing well.”

PEP approached SG Fleet’s board of directors, headed by Andrew Reitzer, and received due diligence from the board, the sources said. PEP is advised by Barrenjoey, Citi and Allens, while SG Fleet is advised by Bank of America and Gilbert + Tobin.

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