MAAS Group Holdings Limited (ASX:MGH) entered into a binding agreement to acquire Dandy Premix Concrete Pty Ltd for AUD 85 million on November 25, 2022. As a part of transaction, Maas group will pay AUD 76.5 million in cash and AUD 8.5 worth of shares out of which AUD 2.5 million worth of shares will be issues at completion and remaining will be issues in equal share tranches annually over the next three years. The cash consideration will be funded from existing cash reserves and debt facilities.

The transaction is subjected to third party consents and customary completion conditions. The transaction is expected to complete by the end of December 2022.