HiTech Group Australia Signs Asset Sale Deed to Acquire Hudson Global Resources Assets
MT Newswires Live
Sep 04
HiTech Group Australia (ASX:HIT) executed a long-form asset sale deed with Hudson Global Resources to acquire certain assets, following phase one clearance from the Australian Competition and Consumer Commission, according to a Friday filing with the Australian bourse.
The revised deal comprises an upfront purchase price of AU$7 million, less around AU$1.8 million in employee entitlements, with a AU$1.3 million deposit already paid, and up to AU$3 million in deferred consideration tied to future cash generation, the filing said.
Completion is expected on Sept. 11, subject to the remaining conditions being met, the filing added.
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