Mitula Group enters scheme of arrangement for LIFULL Co takeover

Company News

by Rachael Jones

Property search engine company the Mitula Group (ASX:MUA) has been suspended from quotation since the close of trade yesterday.

This is following lodgement of the Supreme Court of Victoria orders with the Australian Securities and Investments Commission approving the scheme of arrangement by which LIFULL Co. will acquire all of the issued shares in MUA.

LIFULL Co is a real estate information services company based in Japan. They employ over 1,000 people .

Mitula will become a wholly-owned subsidiary of the Company by means of a scheme of arrangement under the Australian Corporations Act.

The Implementation Date of the Scheme of Arrangement will be January 8, 2019.

Shares in Mitula Group (ASX:MUA) closed 1.3 per cent higher at $0.80 yesterday.

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.