The Agency Group Australia Limited entered into a share sale and purchase agreement to acquire Bushby & Co. Pty. Ltd. from family members Philip and Mark Bushby and Eric Andersen for AUD 4.8 million.
The transaction is conditional on the following conditions being fulfilled or waiver on or prior to September 30, 2022: The Agency Group Australia Limited securing finance approval from a financial institution of its choice in order to fund the transaction; The Agency Group Australia Limited entering into employment agreements or independent contractor agreements with each of Phillip Russell Bushby, Sven Eric Andersen and Mark Andrew Bushby and no material adverse event having occurred on or before completion of the transaction. Completion of the transaction will occur 5 business days after all of the conditions precedent are waived or satisfied.