Woolworths Group Limited (ASX:WOW) agreed to acquire a 80.2% stake in MyDeal.com.au Limited (ASX:MYD) from Sean Senvirtne for approximately AUD 220 million on May 20, 2022. Under the terms, 1.05 per share will be paid in cash. Woolworths Group Limited also entered into a call option to acquire 19.9% stake in MyDeal. Almost 60% of the shares being sold to Woolworths will be from MyDeal's Chief Executive Officer Sean Senvirtne's stake. He will also hold the remaining interest in the company. Transaction is conditional upon various regulatory approval including, Australian Competition and Consumer Commission (ACCC ) approval, Australian Securities and Investments Commission (ASIC), ASX approval, MyDeal.com' shareholders approval, court approval. As of August 12, 2022, the parties have received confirmation from the Australian Competition and Consumer Commission that it will not oppose the Scheme, Implementation of the Scheme remains subject to the ACCC Approval being in full force. As of September 6, 2022, MyDeal shareholders today voted in favor of the scheme of arrangement. As of September 13, 2022, Supreme Court of New South Wales has approved the acquisition. The deal is expected to close on September 14, 2022. RBC Capital Markets, Australia acted as financial advisor and Maddocks Lawyers acted as legal advisor to MyDeal.com. Boardroom Pty Limited acted as a registrar to MyDeal.com.

Woolworths Group Limited (ASX:WOW) completed the acquisition of a 80.2% stake in MyDeal.com.au Limited (ASX:MYD) from Sean Senvirtne on September 14, 2022.