MPower Group Limited (ASX:MPR) agreed to acquire Lakeland Solar & Storage Pty Limited from Kawa Australia Developments Pty Limited for an enterprise value of AUD 8 million on May 16, 2022. The transaction has an enterprise value of AUD 8 million, comprising deferred consideration of up to AUD 0.35 million over a three-year period following completion and the assumption of an existing AUD 7.66 million limited recourse long-term debt facility in place with German bank. The transaction will be internally funded. The transaction is subject to a number of conditions, including third party consents being obtained and the finalisation of amendments to the existing debt facility structure, acquisition is expected to be completed by the end of June 2022. As of August 12, 2022, relevant third-party consents have been obtained.

MPower Group Limited (ASX:MPR) completed the acquisition of Lakeland Solar & Storage Pty Limited from Kawa Australia Developments Pty Limited on August 12, 2022.