Bell confirms Tricom acquisition
Troubled broking house Tricom is to be acquired by Bell Financial Group.
Bell announced to the Australian Securities Exchange today that it had signed a heads of agreement for the acquisition of 100 per cent of Tricom subject to a number of conditions, including satisfactory completion of due diligence prior to March 7.
Bell’s announcement said that should all conditions be satisfied, Bell would provide a capital infusion into, and take control of, Tricom.
It said an earn-out mechanism would be put in place for existing Tricom shareholders assuming Tricom met certain performance targets.
AUTHOR
Mike Taylor
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