Vysarn Limited enters into Share Sale Agreement to acquire Project Engineering Pty Ltd

Vysarn Limited (ASX: VYS) announced that it had signed a Share Sale Agreement to acquire Project Engineering Pty Ltd. Under the agreement, the company will buy 100% of the issued shares in Project Engineering Pty Ltd for a total cash consideration of AU$2.60 million. The purchase price assumes that ProEng is acquired debt free.

ProEng will become a wholly owned subsidiary of Vysarn after the completion of the transaction. The cash component of the acquisition consideration will be funded through the company’s cash reserves and debt funding. Vysarn Limited has recognized organic growth opportunities for Project Engineering Pty Ltd. and material integration opportunities with Pentium Test Pumping and Pentium Water.

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