Mobile virtual network operator Amaysim has found a buyer for what will remain of its business after its mobile business is sold to Optus.
WAM Capital is offering either scrip of Amaysim 1 WAM share for every 2.7 Amaysim share, cash at 69.5 cents per Amaysim share, or a combination of scrip and cash.
The sale is subject to the sale of Amaysim’s mobile business to Optus for $250 million, which was announced on 2 November and expected to complete on 1 February 2021.
In the ASX announcement, WAM Capital approached Amaysim to buy its remaining underlying businesses and operations following the sale of the mobile business to Optus, and also take responsibility for the planned distribution of all remaining cash to Amaysim shareholders.
WAM Capital will also manage the planned wind up and delisting of Amaysim from the Australian Securities Exchange.
Amaysim’s board unanimously recommends its shareholders vote in favour of the takeover from WAM Capital.
“We look forward to welcoming Amaysim shareholders to the Wilson Asset Management family, as we continue to grow WAM Capital to the benefit of all shareholders,” the ASX announcement read.
“We are pleased to receive the support of the Amaysim directors and senior management for the offer and look forward to working with them to provide collective benefits to both WAM Capital and Amaysim shareholders.”