Takeover Announced
Iris Cairns Property acquisition of Reef Casino Trust
A$193m equity value
Announced 14 Jul 2025 · ASX: RCT · A$4.67 cash per share · 30% premium
Advisers
Reef Casino Trust
Target
- Financial adviser
- Legal adviser
- Mallesons (as King & Wood Mallesons)
- Independent expert
- Target
- Reef Casino Trust
- Acquirer
- Iris Cairns Property (Iris Capital)
- Seller
- Accor
- Structure
- Off-market takeover
- Sector
- Hospitality, leisure and gaming
In the league tables
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Sources
- 20 Aug 2025 Amendments to Takeover Bid Implementation Agreement ASX
- 28 Aug 2025 Further amendments to Takeover Bid Implementation Agreement ASX
- 29 Sep 2025 Target's Statement ASX
- 25 Nov 2025 Update in relation to Takeover Bid Implementation Agreement ASX
- 8 Oct 2026 Bidder's Statement - Commencement of Despatch ASX