Company News Summary
Maca Announces Purchase of Road Maintenance Business
Original announcement: Purchase of Road Maintenance Buisness
Maca announced that it has entered into an agreement with the shareholders of Services South East (SSE) a privately owned road asset management and maintenance service provider which operates in Vic and SA. The agreement provides for the initial purchase by the Company of 75% of the shares of SSE, with a call/put option to acquire the remaining 25%, together with arrangements to provide ongoing funding support to SSE. The purchase price is $1.35m for 75% plus the assumption of 75% of SSE's existing debt facilities of $7.4m.
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