WINGARA AG LIMITED

WNR
Delayed Quote. Delayed  - 08/17 08:08:45 pm
0.062AUD --.--%

AP Cold Storage Pty Ltd and Sui Garden Pty Ltd entered into binding agreement to acquire Austco Polar Cold Storage Pty Ltd from Wingara AG Limited for approximately AUD 1.5 million.

06/22/2022 | 12:00am
AP Cold Storage Pty Ltd and Sui Garden Pty Ltd entered into binding agreement to acquire Austco Polar Cold Storage Pty Ltd from Wingara AG Limited (ASX:WNR) for approximately AUD 1.5 million on June 22, 2022. The deal value comprising AUD 0.1 million cash and AUD 1.4 million cash for Wingara to satisfy retained working capital obligations of the transaction. Majority of the current employees of Austco Polar Cold Storage will be retained. Austco Polar has reported revenue of AUD 10.7 million and Net loss of AUD 4 million. The completion of the transaction will be subject to a number of conditions including completion of satisfactory due diligence by AP Cold Storage and Sui Garden, satisfaction of all mutual Conditions Precedent relevant to the transaction, successful transfer and/or retention of all relevant agreements, including the Lease with the Landlord and Other conditions customary for a transaction of this nature. The transaction is expected to complete no later than 45 days from the date of announcement, being August 5, 2022.As of August 5,2022, there has been delay in expected closing and parties are committed to working together to successfully close out the transaction.
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