Mr. Yum Trading Pty Ltd agreed to acquire Meandu Australia Pty Limited on September 21, 2023. The all-stock merger is subject to shareholder approval. Post acquisition, Mr Yum co-founder Kim Teo will be the Chief Executive of the combined company.
Stevan Premutico, me&u's founder, will sit on the board as a non-executive director. Me&u chairman Damian Smith will chair the new board. Mr Yum and me&u will continue to trade separately until the deal closes, which is expected in late November or early December.
Moelis Australia Securities Pty Ltd. acted as financial advisor to Mr Yum Trading Pty Ltd.