Two months ago
Perth in, United out …
Sports Entertainment Group has today announced that it will acquire Wildcats and will sell down United.
Extract from ASX announcement below.
"Consideration for the acquisition is $8.5 million before adjustments and will be funded from existing cash reserves and available debt facilities and is expected to deliver a positive but immaterial contribution to future earnings.
SEG has proposed to dilute or divest its current 25% shareholding in Melbourne United and CEO and Managing Director, Craig Hutchison has resigned from his position as Co-Chairman of the team."