News: AYS Amaysim Australia to acquire Click Energy Group Holdings

April 10 (Reuters) - Amaysim Australia Ltd (AYS)

• Acquisition of Click Energy Group Holdings Pty Ltd
• Has entered into a binding agreement to acquire 100% of Click Energy Group Holdings Pty Ltd
• Acquisition of 100% of Click for a total consideration of $120 million
• Acquisition is expected to be 20%+ eps accretive for amaysim shareholders in 2018 financial year
• Transaction to be funded with $40 million scrip6 and $80 million of cash consideration to click vendors
• Acquisition will deliver annual pre-tax cost synergies of approximately $5 million by end of fy18f
• Acquisition to materially increases size of Amaysim with combined Amaysim,click business generating a pro forma fy17f net revenue of $497 million