Mayfield Group Investments Pty Ltd entered into a conditional to acquire Stream Group Limited (ASX:SGO) in a reverse merger transaction for AUD 3.1 billion on June 22, 2020. As part of the agreement, the amount of AUD 25 million will be paid as a consideration. Stream Group Limited will issue of 1.7 billion new Stream shares to Mayfield Group. Pursuant to the transaction, the shares of Stream Group Limited will be consolidated on a 1:125 basis. The resulting company will be held 81.6% by the shareholders of Mayfield Group Investments Pty Ltd and 18.4% by the existing shareholders of Stream Group Limited. Upon the completion of the acquisition, the combined company will be renamed as Mayfield Group Holdings Limited. The Board of the resulting company will be restructured with three representatives appointed by Mayfield and one current director of Stream Group Limited remaining. Post the acquisition, Lindsay Philips, Jon Hobbs and Alan Steele will join the board of the combined company. Lindsay Philips and Alan Steele are associated with the two largest shareholders of Mayfield. Jon Hobbs is the Chief Executive Officer of Mayfield and will be appointed as Chief Executive Officer of the combined company upon completion. The current Chairman of Stream, Larry Case, will remain as a Non-Executive Chairman. The two current non-executive directors, Christian Bernecker and Daniel Barrins of Stream will resign. At completion, the Board of combined company will include, Larry Case as Non-executive Chairman, Alan Steele as Non-Executive Director, Lindsay Phillips as Non-Executive Director and Jon Hobbs as Director and Chief Executive Officer. The acquisition is subject to the approval of all necessary regulatory, ASX and Stream Group Limited's shareholder and completion of due diligence by Stream on the business, assets, operations, and financials of Mayfield and completion of due diligence by the vendors of the Mayfield shares on the business, assets, operations and financials of Stream. The transaction is subject to the Stream Group raising the Share Subscription and the Stream Group being able to satisfy ASX's conditions to re-quotation. A general meeting to obtain shareholder approval of Stream Group Limited is expected to be held on August 18, 2020. As on September 21, 2020, shareholder meeting of Stream Group Limited is expected to be held on October 23, 2020. As on October 23, 2020, all resolutions, including the ones concerned with the acquisition, were approved by Stream Group's shareholders. The acquisition is expected to close in early September 2020.

Mayfield Group Investments Pty Ltd completed the acquisition of Stream Group Limited (ASX:SGO) in a reverse merger transaction on November 20, 2020.