Farmcove Investment Holdings entered into an agreement to acquire St Andrew's Australia Services Pty Ltd from Bank of Queensland Limited (ASX:BOQ) (BOQ) for approximately AUD 23 million on October 13, 2020. Under the transaction, BOQ will provide a capped indemnity to Farmcove Investment Holdings (Farmcove) for certain pre-completion matters. In addition, a vendor loan has been agreed between BOQ and Farmcove which will become effective on the completion date. As of August 31, 2020, St Andrew's Australia Services's consolidated total assets are AUD 92 million and total liabilities are AUD 21 million. This transaction is subject to certain conditions, including regulatory approval from APRA and completion is expected to occur before the end of Financial year 2021. As of October 26, 2021, The Australian Prudential Regulation Authority (APRA) has provided Farmcove Investment Holdings with approval to acquire St Andrew's Australia Services. The expected closing date of the transaction is in 1H 2022. As of October 26, 2021, the expected closing date of the transaction is October 28, 2021. Peter Dunne, Elizabeth Henderson and Raj Mathew of Herbert Smith Freehills acted as legal advisor to Bank of Queensland Limited. King & Wood acted as legal advisor to Farmcove Investment Holdings in the transaction. Farmcove Investment Holdings completed the acquisition of St Andrew's Australia Services Pty Ltd from Bank of Queensland Limited (ASX:BOQ) (BOQ) on October 28, 2021.