SciDev to Acquire ProSol Australia

  • Oct 22, 2019 AEDT
  • Team Kalkine

SciDev Ltd (ASX: SDV) has reported that it entered into a binding Heads of Agreement (HOA) to acquire ProSol Australia Pty Ltd. ProSol provides services to mining and water treatment industries in NSW.

  • The transaction is expected to deliver revenues of $2 million to $4 million per annum from the Hunter Valley coal industry.
  • SDV to acquire ProSol for $1.9 million in total, 55%:45% cash equity split in three tranches with performance hurdles.

By 12:40 PM AEST, SDV was trading at $0.575, up by 2.68% relative to the previous close.


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