Company News Summary
Maca Announces Purchase of Structural, Mechanical and Piping Business
Original announcement: Purchase of Structural, Mechanical and Piping Business
Maca entered into an acquisition agreement with the shareholders of Interquip, a privately-owned business providing end to end mineral processing solutions predominantly in WA and the NT. The agreement provides the Company to acquire 60% of the issued capital of Interquip for consideration of $8m, subject to settlement adjustments. The transaction will be settled in cash (70%) and its shares (30%) and is also subject to an earn-out arrangement. There is an option to acquire the remaining 40% after three and a half years. It will provide ongoing funding support to Interquip to facilitate growth. Shares issued to the vendor will be subject to a 2 year voluntary escrow period.
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