News: REA Rea Group To Acquire Controlling Interest In Elara

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    Oct 29 (Reuters) - REA Group Ltd (REA) :

    • REA GROUP LTD - REA GROUP TO ACQUIRE CONTROLLING INTEREST IN ELARA-REA.AX
    • REA GROUP LTD - ENTERED INTO A BINDING AGREEMENT TO INCREASE ITS OWNERSHIP INTEREST IN ELARA TECHNOLOGIES
    • REA GROUP LTD- TOTAL CONSIDERATION FOR TRANSACTION IS EXPECTED TO BE IN RANGE OF US$50M - US$70M
    • REA GROUP LTD- ON COMPLETION REA WILL HOLD 5 OUT OF 9 BOARD SEATS AND IS EXPECTED TO HAVE A SHAREHOLDING OF BETWEEN 47.2% AND 61.1%
    • REA GROUP - ASSUMING DEAL COMPLETION, SEES FY21 REVENUES TO INCREASE BETWEEN A$15M - A$20M
    • REA GROUP - ASSUMING DEAL COMPLETION, SEES FY21 CORE OPERATING EBITDA DECREASING BY A$20M - A$25M
 
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