MoneyMe Limited completed the acquisition of SocietyOne Australia Pty. Ltd for approximately AUD 140 million.
The transaction is subject to approval by the shareholders of MoneyMe and third party approvals. As on February 1, 2022, MoneyMe's shareholders voted with a 99.99% majority to support the resolution facilitating the issue of MoneyMe shares as consideration for the acquisition. The transaction is expected to be completed by March 15, 2022. Morgan Stanley (NYSE:MS) acted as the financial adviser and Gilbert and Tobin acted as the legal advisor to MoneyMe. As on March 1, 2022 MoneyMe is pleased to confirm it has signed the transaction on substantially the same terms as its existing AUD 50 million facility provided by Pacific Equity Partners. Under the terms of the partnership MoneyMe has secured an additional AUD 25 million funding commitment through a secured funding instrument which matures in November 2025 as documented under a Syndicated Facility Agreement. The new funding will be used to support the acquisition of SocietyOne and associated transaction costs.
MoneyMe Limited (ASX:MME) completed the acquisition of SocietyOne Australia Pty. Ltd for approximately AUD 140 million on March 15, 2022. MoneyMe Limited has appointment of David (Dave) Taylor to the MoneyMe Board of Directors. Anton Harris, Rehana Box, Ben Landau, Michael Ryland, Rebecca Cope, Vicki Aron, Philip Trinca, Anita Cade, Jennifer Schlosser, Emma Malone, Kenneth Tang, Steve Smith, Kim Ching and Jennie Mansfield of Ashurst Australia acted as legal advisors to SocietyOne.