ARA Group Limited entered into a definitive asset sale agreement to acquire Kenshaw Electrical Pty Limited from VivoPower International PLC for AUD 5 million.

ARA Group Limited entered into a definitive asset sale agreement to acquire Kenshaw Electrical Pty Limited from VivoPower International PLC (NasdaqCM:VVPR) for AUD 5 million on April 29, 2024. The consideration consists of AUD 5 million in cash. As part of the consideration, AUD 5 million was paid towards common equity.

The consideration of AUD 5 million is subject to final net working capital adjustments. The asset sale agreement is subject to customary conditions and is expected to complete on July 1, 2024. Sts Capital Partners Pte Ltd. acted as financial advisor to VivoPower.