Eclipx Group Limited (ASX:ECX) announced the sale of 100% of the shares in CarLoans.com.au and Georgie for total cash proceeds of $2 million to Firstmac Limited. It comprises of $0.4 million in upfront consideration & $1.6 million in deferred fixed consideration which is to be paid quarterly between December 2020 and September 2021.
The transaction is projected to be executed by 6 May 2020 depending on satisfaction of limited closing conditions.
CarLoans.com.au, incorporating Georgie were the non-core businesses of the company.
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