EML Announces Sale of Sentenial Business
Key Highlights:
• Agreement to sell the Sentenial business for an enterprise value of €32.75m (A$54.1m1), subject to potential adjustments
• Earnings and cashflow accretive to EML in year 1 in light of Sentenial being unprofitable
• Further simplifies EML’s organisational structure and improves EML’s ability to focus on its profitable core businesses
• Proceeds from the sale will be used to reduce debt and strengthen EML’s balance sheet
• Completion of the sale is subject to a number of conditions precedent including required regulatory approvals.
This announcement is from the company approved ASX announcement on 15/3/2024