Mailpac Group Completes Acquisition of My Cart Quick with Share Issuance
1 report, 1 independent
Updated Sun 00:00
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What happened
Mailpac Group Limited will ask shareholders to approve issuing 50 million shares to complete its acquisition of My Cart Quick Ltd. The original contemplated all-share deal was valued at $1.21 billion, but the revised agreement sets the total consideration at $364 million, comprising $243 million in cash and the issuance of 50,000,000 ordinary shares.
From jamaica-gleaner.com
Why it matters
The acquisition value was cut by three-quarters from the amount previously recorded. This revised structure, which includes a substantial share issuance, will be voted on by shareholders at the annual general meeting on November 4.
From jamaica-gleaner.com
Who's involved
- RobinsonExecutive Chairman of Mailpac Group Limited