Swing Media Tech in proposal to acquire full control of Aussie wagyu beef producer

SINGAPORE (Feb 20): Swing Media Technology is morphing from selling data storage devices to slices of wagyu beef.

Swing Media announced it had on Sunday entered into a sale and purchase agreement with Total Victor Global to acquire a 100% stake in Grace Health Group. It was in August last year that the two parties entered into a non-binding MOU for the proposed acquisition.

The aggregate consideration for the acquisition is A$115 million ($125.2 million) with A$90 million in cash on completion of the deal, A$10 million in convertible bonds and another A$15 million in cash a year after completion of the deal.

---

Related Stories

---