Woolworths signs Scheme Implementation Agreement to acquire of MyDeal.com.au

Woolworths Group (ASX: WOW) has signed a Scheme Implementation Agreement to acquire ~80% of the share capital of MyDeal.com.au Limited (ASX: MYD) via a Scheme of Arrangement for cash consideration of AU$1.05 per share. The offer implies an enterprise value of AU$243 million.

MyDeal.com.au Limited is amongst the leading online marketplaces of Australia. The platform currently hosts ~1,900 sellers offering over 6 million product SKUs with a focus on furniture, homewares as well as everyday needs. There are over 1 million active customers. MYD generated Gross Transaction Value of AU$260 million in the 12 months to 31 Mar 2022.

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