Vysarn cancels deal to buy NewGround

• Vysarn and NewGround have mutually agreed to terminate their share sale agreement.
• The company's share price remained unchanged at $0.96 following the announcement.
• The decision ends plans to establish a new water infrastructure operating segment.

Vysarn (ASX:VYS) has terminated its share sale agreement to acquire 100% of the issued share capital in NWG Enterprises, known as NewGround.

The market previously expected the acquisition to complete on or before Oct. 2 following an agreement extension attempt.

The original transaction structure included up to 33 million shares and $25 million in cash, with an upfront component valued at $30 million.

Following the announcement the Vysarn share price was unchanged at $0.96.

Vysarn stated that the acquisition was originally designed to establish a new operating segment focused on water infrastructure, irrigation, and facilities management.