Event non-ATF Mobile

PSC Insurance Group Ltd (ASX: PSI) has announced the acquisition and completion of Carroll Insurance Group (CIG).

Key terms of the transaction are:

  • 100% of the share capital was acquired for ~ £3.4 million (~ A$6.3 million), excluding net assets
  • 70% of the consideration is payable in cash on completion (~ £2.4 million), with the balance after 12 months, with the final 30% adjustable, dependent on the revenue after 12 months.

The company expects the incremental revenue from CIG to be ~ £2.0 million per annum.

 

 

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