SEEK Limited
(ASX:SEK) will boost its stake in OCC Mundial and SeekAsia in a deal worth $125 million.
The online job seeker company says its ownership in OCC will jump from 56 per cent to 98 per cent, while its SeekAsia stake grows from 76 per cent to 80 per cent.
The company sees both companies as clear market leaders with favourable growth forecasts.
Seek will fund the move with cash and debt facilities with ownership stakes coming from existing shareholders.
Accounting for the buy, the group’s pro-forma debt would be $480 million at the end of April this year.
Seek reported a net profit of $195 million in the first half of the 2015 financial year.
