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Countplus Ltd announces subsidiary sale

Wednesday, 18 Dec 2013 06:17pm EST 

Countplus Ltd:Says that it has executed an unconditional agreement to sell one of its Perth based member firms, Lawrence Business Management and its subsidiaries (LBM Group), to a group of the business' new management team for a cash consideration of about A$7.3 million.Says settlement will be in early Jan. 2014.Says sale will enable Countplus to redeploy the capital to acquisition opportunities as they arise, which meet its strategic objectives and future growth plans.Says the proceeds will be applied to reduce company debt. 

Company Quote

0.01 +0.90%
10:39pm EDT