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EBIX INC

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EBIX INC : Other Events, Financial Statements and Exhibits (form 8-K)

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02/12/2019 | 01:43pm EDT

Item 8.01 Other Events. On February 11, 2019, Ebix, Inc. ("Ebix" ), a Delaware corporation, announced that its EbixCash World Money Limited subsidiary in India has completed the acquisition of 74.84% controlling stake in India based Weizmann Forex Limited (BSE: WEIZFOREX). EbixCash has also made a 90-day time bound public offer to acquire the remaining 25.16% publicly-held Weizmann Forex shares for INR 528 ($7.54) per share, in adherence to SEBI rules, or approximately $21.12 million to public shareholders. The purchase valued 100% of Weizmann Forex at $65.94 million, net of $17.51 million of cash remaining in the business. Ebix funded the entire transaction in cash, using its existing bank line and internal cash reserves.

On February 11, 2019, the Company issued a press release announcing the details of this Agreement. A copy of this press release is being filed as Exhibit 99.1 to this Form 8-K and is incorporated herein by reference in its entirety.


Item 9.01        Financial Statements and Exhibits.
Exhibits
  99.1         Press release, dated February 11, 2019, issued by Ebix, Inc.

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© Edgar Online, source Glimpses

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