The sale of Madison Financial Group is on track to be completed in April, amid news from OneVue Holding Limited that voluntary administrators have been appointed to Sargon Capital Pty Ltd.
OneVue announced to the Australian Securities Exchange today that it had received notification of the appointment of voluntary administrators to Sargon Capital Pty Ltd with the first creditors meeting for Sargon Capital to be held on 18 March.
It said the appointment of voluntary administrators to Sargon Capital should enable OneVue to gain more visibility on the extent of any securities held.
It said that in relation to the voluntary administrators of various Sargon subsidiaries the terms of a potential transaction including the consideration and purchase information had not yet been formally disclosed with a second creditors meeting to take place today.
The OneVue announcement said the sale of Madison Financial Group over which OneVue has a 100% secured interest is progressing with a number of preliminary bids placed.
“The process is on track to complete in April,” it said.