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New Deal


Announced

AGBA Acquisition to acquire the platform and IFA business of Convoy Global Holdings for $400m.

Financials

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Transaction Value£299m
Consideration TypeOrdinary Shares, Cash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Acquisition

Majority

Friendly

business to business services

Single Bidder

Management Consulting

Pending

Hong Kong

financial advisory services

Cross Border

Private

fintech platform

Synopsis

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AGBA Acquisition, a British Virgin Islands company incorporated as a blank check company, agreed to acquire 100% of the Platform Business, a platform business, which include B2B, FinTech, Retail and Healthcare platforms, and 30% of IFA Business, an independent financial advisory business, of Convoy Global Holdings, a diversified financial institution based in Hong Kong, for $400m. Convoy or its affiliate will receive 30m newly issued shares of the post-combined company, with a deemed price per share of $10 plus $100m in cash. Upon closing of Transaction, AGBA plans to remain NASDAQ-listed and trade under a new ticker symbol.

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