The Agency Group further delay acquisitions update

The Agency Group further delay acquisitions update
The Agency Group further delay acquisitions update

The Agency Group has further delayed announcements about intentions for the acquisition of two key real estate businesses.

The latest extension was notified to the ASX yesterday afternoon.

The West Australian company was due to settle on its $950,000 acquisition of another WA estate agency Sell Lease Property last month.

The Agency was expected last month to exercise an option to acquire the Matt Lahood-led real estate group Top Level, which operates as The Agency East Coast under a licence agreement.

Instead it extended a trading halt in place until next week.

The trading halt started last month.

The Agency Group acquisition of the ServTech Global Limited subsidiaries Sell Lease Property Pty Ltd, Complete Settlements Pty Ltd and Value Finance Pty Ltd had been delayed due to a "small number of conditions" needed to be satisfied prior to settlement. 

The acquisition of Top Level is reportedly delayed due to procedural issues relating to ASX compliance.

Earlier this week The Agency denied claims they were "scrambling for cash."

Tags: 
Real Estate Agency The Agency

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