The management team of Alexander Proudfoot completed the acquisition of the entire share capital of Alexander Proudfoot Serviços Empresariais Ltda from Management Consulting Group PLC.
The management team of Alexander Proudfoot entered into an agreement to acquire the entire share capital of Alexander Proudfoot Serviços Empresariais Ltda from Management Consulting Group PLC (LSE:MMC) for $0.08 million on May 4, 2018. For the year ended December 31, 2017, Alexander Proudfoot Serviços Empresariais generated revenues of £2.4 million ($3.2 million) and an operating loss before tax of £1.9 million ($2.6 million) and as at the same date had gross assets of £1.2 million ($1.62 million). The transaction is subject to customary closing conditions, an advance cash payment by Management Consulting Group to increase the capital base of Alexander Proudfoot Serviços Empresariais, the re-classification of balances to become net loans due to the Management Consulting Group of £0.75 million ($1.01 million) and the parties entering into a licensing agreement.
The management team of Alexander Proudfoot completed the acquisition of the entire share capital of Alexander Proudfoot Serviços Empresariais Ltda from Management Consulting Group PLC (LSE:MMC) on May 23, 2018.