Reunert Limited, entered into an agreement to acquire 100% of the issued share capital of Etion Create Etion Create Proprietary Limited from Etion Limited for ZAR 210 million.

Reunert Limited (JSE:RLO) entered into an agreement to acquire 100% of the issued share capital of Etion Create Proprietary Limited from Etion Limited (JSE:ETO) for ZAR 210 million on May 20, 2022. The value of the net assets of Etion Create as at September 30, 2021 was R159.4 million. The transaction is subject to the passing of the ordinary and special resolutions required to approve and implement the acquisition by shareholders of the seller and the approval of the acquisition by the competition authorities of South Africa.

PSG Capital acted as financial advisor to Etion Create Proprietary Limited.