Moa plans $3 million rights offer to fund Savor Group purchase

Thu, 21 Feb 2019

By Rebecca Howard Feb. 22 (BusinessDesk) - Unprofitable brewer Moa Group plans to raise up to $3 million through a rights issue to help fund its acquisition of bar and restaurant owner Savor Group if the deal is approved by shareholders at a special meeting next month. Last December Moa announced a conditional agreement to acquire the business it said would add $3.6 million of operating earnings in its first full financial year. The conditional agreement is for Moa to pay $13 million up front for Savor Group, of which 60 percent woul...

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