News: MLD MACA Ltd acquires contracting business

Jan 20 (Reuters) - MACA Ltd (MLD) :

• Maca acquires contracting business (MLD)
• Says acquisition consideration of approximately $5 million in cash
• Says contract tenures range from 3 to 19 months
• Says Maca expect to finalise the purchase of alliance with settlement to

  occur by the end of January 2016

• Says co entered into an agreement with shareholders of alliance contracting

  pty for the purchase of all the shares of alliance

• Says acquisition will provide Maca with new working relationships with Metals

  X Limited

• Acquisition consideration will be funded from maca's existing cash resources