Pacific Current Group launches strategic review following acquisition proposal

Pacific Current Group (PAC) has launched a formal strategic review following a non-binding indicative proposal from Australian investment firm River Capital. The proposal suggests that Pacific Current acquire River Capital for approximately $80 million, with consideration involving roughly 6.3 million Pacific Current shares, implying a value of $13.00 per share subject to a two-year escrow period.

To increase the company’s free float and broaden its shareholder base, River Capital has also proposed a managed bookbuild to sell down its existing holdings of approximately 10 million Pacific Current shares at a price of at least $13.00 per share prior to the acquisition.

The Pacific Current board stated that the proposal makes it an appropriate time to assess strategic alternatives to optimize value. Options under consideration include progressing with the River Capital proposal, the sale of the company, delisting from the ASX, or an orderly realization of holdings. This announcement coincides with the company’s FY26 financial year results, which reported the eradication of debt and a transition to a simplified business structure.