Red Arbor Holding S.L. completed the acquisition of unknown majority stake in Online Career Center México, S.A.P.I de C.V. and Catho Online Ltda. from SEEK Limited.
June 20, 2024
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Red Arbor Holding S.L. entered into a binding agreement to acquire unknown majority stake in Online Career Center México, S.A.P.I de C.V. and Catho Online Ltda. from SEEK Limited (ASX:SEK) for $85 million on June 5, 2024. A cash consideration of $85 million will be paid by Red Arbor Holding S.L. Redarbor will pay cash consideration of $85 million, plus customary working capital and other adjustments. Red Arbor Holding S.L. agreed to acquire 98.2% interest in Online Career Center México, S.A.P.I de C.V and 100% in Catho Online The parties have agreed that $20 million of the purchase price will be held in escrow as security against certain representations and warranties given by SEEK in connection with the transaction. Red Arbor Holding, S.L. acquiring 98.2% stake in OCC Mexico and its 100% stake in Catho Online. This is subject to certain customary conditions precedent. SEEK's current intention is to apply the net sale proceeds to the reduction of debt. The expected completion of the transaction is by end of June 2024.
Red Arbor Holding S.L. completed the acquisition of unknown majority stake in Online Career Center México, S.A.P.I de C.V. and Catho Online Ltda. from SEEK Limited (ASX:SEK) on June 21, 2024.
SEEK Limited is an online employment marketplaces company. It operates a range of other businesses, including SEEK Learning, which gives clients the expert information clients need to find the right course for their career, SEEK Volunteer, which has been connecting Australians to volunteer opportunities, and SEEK Business is Australiaâs online business-for-sale marketplace. Its segments include Australia and New Zealand (ANZ), Asia, Brasil Online, OCC, Platform support, Portfolio investments and SEEK Growth Fund. ANZ, Asia, Brasil Online and OCC segments are engaged in online employment marketplace services. Platform support segment includes JobAdder, which is a talent acquisition suite. Platform support also includes other businesses: Jora and Certsy. Jora is an online employment marketplace. Certsy is a platform to securely verify and share work credentials and to complete compliance checks. Portfolio Investments segment consists of a small portfolio of early-stage ventures.
Red Arbor Holding S.L. completed the acquisition of unknown majority stake in Online Career Center México, S.A.P.I de C.V. and Catho Online Ltda. from SEEK Limited.