SEEK agreed to sell its 98.2% stake in OCC Mexico and its 100% interest in Catho Online to Red Arbor Holding, a company based in Spain operating employment marketplaces in Latin America.

The cash consideration amounts to US$85 million ($127.9 million), with US$20 million ($30.1 million) held in escrow for certain representations and warranties.

The transaction, subject to customary conditions, is anticipated to conclude by June.

The disposals are projected to incur a net loss on sale of between $15-$35 million, inclusive of cash proceeds, carrying value, FCTR losses, provisions, transaction costs, and tax impacts.