Landmark White
(ASX:LMW) has merged with MVS National, to create the largest ASX listed property valuation service company.
The property valuation firm raised about $19 million, with $16 million used to fund the cash consideration for the MVS acquistion.
LMW says the remaining consideration for the MVS acquistion, will be paid under an earn-out structure in 2020, capped at $11.7 million by the issue of fully paid ordinary shares, subject to company performance.
The company says the merger allows LMW to leverage MVS’ Australia-wide distribution network and create a solid platform for new service offerings into untapped markets.
Shares in Landmark White
(ASX:LMW) last traded at 61 cents.
