Australia's PEXA to buy UK-based Smoove; shares hit 16-mth low

PEXA

05/10/2023 02:00

** Shares of Australia's PEXA Group  PXA.AX  fall as much as
1.5% to A$10.93, their lowest since June 2022
    ** The digital real estate settlement services firm
announces a planned acquisition of UK-based Smoove  SMV.L  for
31 million pounds ($37.63 million)
    ** The offer would give Smoove shareholders 54 pence in cash
    ** Smoove intends to recommend the deal unanimously
    ** PEXA will fund the acquisition through cash and debt
    ** PEXA has fallen 7.1% this year as of last close 


($1 = 0.8237 pounds)

 (Reporting by Rishav Chatterjee in Bengaluru)
 ((Rishav.Chatterjee@thomsonreuters.com;))