1835i to acquire a 81% stake in Cashrewards from Alium Capital and M&S Skyleisure for $72.5m.

1835i to acquire a stake 81% stake in Cashrewards, an Australian cashback reward program, from Alium Capital, a cross-over investment fund with public and private equity investments, and M&S Skyleisure for $72.5m. "The proposed transaction is an endorsement of the quality of the Cashrewards offering for members and merchants and will help further advance our position as the leader in Australian cashback. We are pleased to be entering into an Implementation Deed with 1835i today and believe it is in the best interests of our shareholders. It provides an opportunity for our shareholders to realise a significant premium to the prevailing trading price of Cashrewards shares," Bernard Wilson, Cashrewards CEO.