A consortium including Bayley Corporation Limited, Knight Frank Australia Holdings Pty Ltd and John McGrath entered into a scheme implementation deed to acquire McGrath Limited (ASX:MEA) from John McGrath and others on March 25, 2024. The transaction is approved by board of directors of McGrath Limited. The transaction is expected to occur before June 30, 2024.

As per the transaction, McGrath Limited will pay termination fees of AUD 0.96 million in case of termination to the Consortium in certain customary circumstances. Monash Advisory and Yatsen Associates Group acted as financial advisors, Herbert Smith Freehills acted as legal advisor and Link Market Services Limited acted as registrar to McGrath Limited. Gilbert and Tobin acted as legal advisor to the consortium.