OPUS Group Limited
(ASX:OPG) has signed an agreement with 1010 Printing Group via which 1010 Group will acquire OPUS’s Singapore division, C.O.S Printers Pte Limited.
The purchase consideration includes $11.3 million to be paid on completion of the transaction.
$8 million will also be paid subsequent to completion, subject to and conditional upon 1010 Group’s shareholding in COS Printers reducing below 50 percent at any time within 3 years after completion.
Conditions of the sale include OPUS Group entering into a non-compete agreement with COS Printers in Singapore for a minimum period of 2 years.
OPUS recorded a net profit of $12.05 million at 31 December 2015.
