WT Financial completes sale of Vesta B2C subsidiaries

• 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.