EROAD Limited has received an unsolicited, non-binding indicative proposal from Brillian APAC Pty Ltd (part of the Volaris Group), seeking to acquire 100% of EROAD's shares at a proposed price of $1.30 per share in cash.
Volaris has also acquired an interest of 17.734% of EROAD's shares on issue.
The EROAD Board of Directors has commenced a process to consider the proposal alongside its advisors, Goldman Sachs and Chapman Tripp.
There is no certainty that the proposal or the strategic review will result in any transaction.
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