Consolidated Operations Group Limited (ASX:COG) signed term sheet to acquire an additional 43.2% stake in Westlawn Finance Limited for AUD 16.8 million on June 12, 2020. Pursuant to the term sheet, Consolidated Operations Group Limited will acquire stake in two tranches. Consolidated Operations Group Limited will acquire additional 19.2% stake for AUD 7.45 million in first tranche on August 31, 2020 while additional 24% stake for AUD 9.3 million in second tranche on July 1, 2023. Post completion of both tranches, Consolidated Operations Group Limited will hold 75% stake of Westlawn Finance Limited. In accordance with the Term Sheet, the Consolidated Operations Group Limited has an option but not a contractual obligation to acquire Tranche 2 by no later than July 1, 2023. As of September 1, 2020, Consolidated Operations Group Limited has completed the first tranche acquisition of 19.2% stake and as a result, it holds 51% stake of Westlawn Finance Limited. Consolidated Operations Group Limited raised AUD 5 million unsecured debt to facilitate the transaction with the balance of the consideration payable in 12 months. COG Financial Services Limited (ASX:COG) completed the acquisition of a 43.2% stake in Westlawn Finance Limited on November 1, 2021.