WT Financial completes sale of Vesta B2C subsidiaries
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- WT Financial Group has completed the sale of its Vesta subsidiaries.
- The company secured a direct 11% equity interest in the purchasing firm.
- The deal is expected by the company to enhance its earnings over time.
WT Financial Group (ASX:WTL) has completed the sale of its Vesta B2C subsidiaries for a $450,000 cash payment.
The transaction marks the third acquisition completed by the buying entity since its initial formation.
The final deal structure includes 426,800 new ordinary shares issued at $1.63 per share.
The company expects the purchasing business to generate annualised revenue of approximately $9.4 million.
Following the announcement, the WT Financial Group share price was unchanged at $0.135.
The parent company now holds a direct interest of approximately 11% in the entity.
