ARC Funds (ASX:ARC) announced a conditional agreement to acquire a 25% minority, passive equity interest in the business news platform, Ausbiz Group.
The acquisition signals a deepening of ties between the investment firm and the specialised media outlet, pending the satisfaction of customary conditions and definitive documentation.
Under the terms of the transaction, ARC will issue 8,130,000 fully paid ordinary shares to existing Ausbiz shareholders to facilitate the purchase.
The issue price of $0.125 per share reflects a premium on ARC’s recent trading levels and aligns with the company’s recent capital raising activities.
The "consideration shares" will rank equally with existing stock but remain subject to the essential green light from ARC shareholders at a forthcoming general meeting.
ARC has emphasised that the investment is strictly passive in nature. Despite the significant 25% holding, the company will not exert control over Ausbiz, nor will it have the authority to direct its financial or operating policies.
The structure ensures that Ausbiz continues to operate as an independent entity, maintaining its editorial and operational autonomy within the market.