Navigator Global Investments Ltd – Transaction Update on Mesirow’s Asset


Navigator Global Investments Limited (ASX: NGI) disclosed an update on acquisition of Mesirow Advanced Strategies’ assets wherein the group has completed its acquisition of all the assets of Mesirow Advanced Strategies on July 01, 2018. The consideration for the transaction is deferred and wholly contingent in nature. As a component of the procedure for determining the fair value of the acquired assets, the group is in the process of estimating the future contingent consideration to be paid in relation to the transaction. This contingent consideration will be paid in the future as calculated under an earnout payment over the seven years, estimated as an agreed percentage of EBITDA generated by the transitioned assets above a floor amount.

Based on current assumptions, the management assumes that the future contingent consideration payment will be around US$ 10 Mn over the 7-year period.

Further, the group will provide additional information in relation to the future accounting impacts of the transaction during the announcement of 2018 full-year results. Though, it is expected that consideration payment will be funded from future operating cash flows.

With this update, the share price zoomed up 6.3% on July 20, 2018 with the market capitalization of $895.06 Mn before market close.

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