Avid Property Group, a leading private equity firm, offered to acquire Villa World, a leading residential developer, for A$294m ($205m). The company agreed to a A$2.35 ($1.64) per share takeover offer, an increase to the initial offer of A$2.23 ($1.56) per share lobbed in March when Avid made its first approach. The offer represents a premium of 17.8% to the Villa World closing share price on 14 March 2019. "We are proud of what Villa World has created over a long and successful journey," Villa World chairman Mark Jewell said. "We’re pleased to be entering into a binding transaction with Avid today which provides our shareholders the opportunity to realise their investment in Villa World at an attractive and certain price.