Brief: Sequoia Financial Says To Acquire Castle Corporate & Castle Legal Businesses

Sequoia Financial

11/07/2023 09:19

July 11 (Reuters) - Sequoia Financial Group Ltd
 SEQ.AX :
    * TO ACQUIRE CASTLE CORPORATE & CASTLE LEGAL BUSINESSES
    * SIGNED A HEADS OF AGREEMENT TO BUY AND MERGE BUSINESSES OF
CASTLE CORPORATE PTY LTD AND CASTLE LEGAL PTY
    * PURCHASE CONSIDERATION IS UP TO A$3.15M AND IS PAYABLE IN
CASH
AND SHARES OVER TWO YEARS POST COMPLETION
    * ACQUISITION WILL BE FUNDED FROM SEQUOIA'S CASH RESERVES
AND BE
IMMEDIATELY EARNINGS ACCRETIVE
    * ACQUISITION EXPECTED TO BOOST EBITDA OF PROFESSIONAL
SERVICES
DIVISION BY A$800,000 PER ANNUM

Source text for Eikon:  ID:nASXc4794q 
Further company coverage:  SEQ.AX 

 ((Reuters.Briefs@thomsonreuters.com;))