Sequoia Financial Group Limited (ASX:SEQ) (“SEQ”, “Sequoia” or “the Company”) today announces the proposed acquisition of InterPrac Limited (“InterPrac”), a well-established financial and professional services business that is highly complementary to Sequoia’s existing operations and that, subject to completion of the proposed acquisition, will deliver immediate scale to a number of the Company’ operating divisions.
Completion of the proposed acquisition is subject to a number of conditions precent, including completion of due diligence to the satisfaction of the Company, entry into formal documentation and all relevant and necessary regulatory and shareholder approvals being obtained by the Company.
Sequoia will commission an independent expert's report in respect of the proposed acquisition and will convene an extraordinary general meeting of shareholders, expected to be held in late August.
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