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    MYD   AU0000107187

MYDEALCOM

(MYD)
Delayed Australian Stock Exchange  -  02:10 2022-09-14 am EDT
1.050 AUD   -.--%
10/22125,948,647 Ordinary Shares of MyDeal.com.au Limited are subject to a Lock-Up Agreement Ending on 22-OCT-2022.
CI
09/23Mydeal.com.au Implements Scheme of Arrangement Deal
MT
09/15MyDeal.com.au Limited(ASX:MYD) dropped from S&P/ASX Emerging Companies Index
CI
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Woolworths Group Limited completed the acquisition of a 80.2% stake in MyDeal.com.au Limited from Sean Senvirtne.

09/14/2022 EST

Woolworths Group Limited (ASX:WOW) agreed to acquire a 80.2% stake in MyDeal.com.au Limited (ASX:MYD) from Sean Senvirtne for approximately AUD 220 million on May 20, 2022. Under the terms, 1.05 per share will be paid in cash. Woolworths Group Limited also entered into a call option to acquire 19.9% stake in MyDeal. Almost 60% of the shares being sold to Woolworths will be from MyDeal's Chief Executive Officer Sean Senvirtne's stake. He will also hold the remaining interest in the company. Transaction is conditional upon various regulatory approval including, Australian Competition and Consumer Commission (ACCC ) approval, Australian Securities and Investments Commission (ASIC), ASX approval, MyDeal.com' shareholders approval, court approval. As of August 12, 2022, the parties have received confirmation from the Australian Competition and Consumer Commission that it will not oppose the Scheme, Implementation of the Scheme remains subject to the ACCC Approval being in full force. As of September 6, 2022, MyDeal shareholders today voted in favor of the scheme of arrangement. As of September 13, 2022, Supreme Court of New South Wales has approved the acquisition. The deal is expected to close on September 14, 2022. RBC Capital Markets, Australia acted as financial advisor and Maddocks Lawyers acted as legal advisor to MyDeal.com. Boardroom Pty Limited acted as a registrar to MyDeal.com.

Woolworths Group Limited (ASX:WOW) completed the acquisition of a 80.2% stake in MyDeal.com.au Limited (ASX:MYD) from Sean Senvirtne on September 14, 2022.


ę S&P Capital IQ 2022
Stocks mentioned in the article
ChangeLast1st jan.
WOOLWORTHS GROUP LIMITED 0.01% 34.455 Delayed Quote.-9.37%
All news about MYDEALCOM
10/22125,948,647 Ordinary Shares of MyDeal.com.au Limited are subject to a Lock-Up Agreement..
CI
09/23Mydeal.com.au Implements Scheme of Arrangement Deal
MT
09/15MyDeal.com.au Limited(ASX:MYD) dropped from S&P/ASX Emerging C..
CI
09/14Woolworths Group Limited completed the acquisition of a 80.2% stake in MyDeal.com.au Li..
CI
09/13Mydeal.com.au Secures Court Approval for Woolworths Takeover
MT
09/06MyDeal.com.au Secures Shareholders Approval for Woolworths Takeover
MT
08/25MyDeal.com.au Limited Reports Earnings Results for the Full Year Ended June 30, 2022
CI
08/12Woolworths' acquisition of MyDeal not opposed
AQ
08/12Competition Regulator Clears Woolworths' MyDeal Acquisition
MT
05/20Australian Shares Rebound Amid Rally in IT Counter Following Previous Session's Sell-of..
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Managers and Directors
Sean Amila Senvirtne CEO, Executive Director & Managing Director
Lachlan Freeman Chief Financial Officer
Pankaj Sharma Head-Technology
Joshua Thomas Mangan Chief Operating Officer
Dean J. Ramler Chief Merchandising Officer