News: STL Stargroup executes asset sale agreement with Indue

Dec 2 (Reuters) - Stargroup Ltd (STL) :

• Stargroup signs asset sale agreement with Indue-stl.ax
• Consideration is $6.5million payable in cash and acquisition is being fully funded via debt
• Projected annualised revenue increase of $4.1million
• Projected annualised ebitda increase of $1.7million
• Co & Indue executed agreement for atm switching, settlement, telecommunications and atm reseller businesses operated by Indue
• Putting in place of a $15million debt facility to fund the acquisition
• Parties have agreed to key terms of ongoing services to be provided by indue to stargroup post completion