On 10 August 2022, IVE Group Limited (IVE, ASX:IGL) announced that it had entered into an implementation deed (Implementation Deed) with Ovato Limited (Administrators Appointed) (Ovato) and the Ovato Administrators under which the parties agreed to progress good faith negotiations for signing of an asset sale agreement pursuant to which IVE would acquire all or substantially all, or a material part or parts of, the printing business or assets of Ovato and its subsidiaries (Proposed Transaction).
IVE today announces that it has entered into an agreement to acquire substantially all of the assets of Ovato for a net purchase consideration of approximately $16 million.
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