Source: Kapitales Research

Highlights

• IFM Group increased its relevant interest in Atlas Arteria from 50.99% to 54.18%, reinforcing its control over the toll road operator as acceptances under the takeover offer continued to rise.
• Diamond Infraco 1 Pty Ltd now holds a relevant interest in 786,305,820 Atlas Arteria securities following additional takeover acceptances and on-market share purchases.
• The Institutional Acceptance Facility triggering condition has been satisfied, allowing the bidder to advance the takeover process while continuing to receive shareholder support.

Atlas Arteria Limited (ASX: ALX) edged 0.294% higher, with its share price rising AU$0.015 to AU$5.105, after IFM Group disclosed a further increase in its ownership interest through the ongoing takeover offer. The latest filing indicates continued shareholder participation in the bid, lifting IFM's relevant interest above the majority ownership threshold and representing another significant milestone in the acquisition process.

Majority Ownership Continues to Expand

According to the latest substantial holder notice, Diamond Infraco 1 Pty Ltd, a wholly owned subsidiary of IFM Global Infrastructure Fund, increased its relevant interest in Atlas Arteria from 739,955,592 securities, representing 50.99% of issued securities, to 786,305,820 securities, equivalent to 54.18% of the company. The increase reflects additional shareholder acceptances under the takeover offer together with further on-market acquisitions completed during the reporting period.

Takeover Offer Receives Additional Shareholder Support

The filing shows that the increase in ownership resulted from multiple transactions completed between 24 June and 29 June 2026. During this period, IFM acquired securities through shareholder acceptances under its takeover offer and executed several on-market purchases, including a single acquisition of more than 32 million securities on 29 June 2026. These transactions materially strengthened the bidder's voting position within Atlas Arteria.

Institutional Acceptance Facility Milestone Achieved

IFM also confirmed that the Institutional Acceptance Facility triggering condition has now been satisfied and a Confirmation Notice has been delivered to the Institutional Acceptance Facility Operator. At the time the notice was issued, no securities were subject to outstanding Acceptance Instructions, marking further progress in implementing the takeover process.

Listed Equity Holdings Remain Separate

The notice also clarified that an additional 14,004,967 Atlas Arteria securities, representing 0.97% of issued capital, continue to be held on behalf of clients within IFM Investors' listed equities funds. However, the bidder confirmed that it has no relevant interest or voting power over these holdings, which remain separate from the takeover vehicle's ownership position.

Takeover Process Continues to Advance

The increase in IFM's ownership demonstrates ongoing shareholder acceptance of the takeover proposal and further strengthens the bidder's influence over Atlas Arteria. With majority ownership now exceeding 54%, the latest substantial holder notice represents another step forward in the acquisition process as IFM continues to seek additional acceptances under its existing offer.

Note- All data presented is based on information available at the time of writing.

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