Perth Wildcats sale agreement
Sports Entertainment Group Limited (SEG) confirms it has signed a binding Share Purchase Agreement and Shareholders Agreement for a staged sale of Perth Wildcats Basketball Pty Ltd (Wildcats), of which SEG is a 95% indirect shareholder, to Mark Arena’s family trust MT Arena Capital Investment Pty Ltd (MTACI).
Mark Arena, a life-long Wildcats fan, is a highly-successful tech entrepreneur and business director who resides in his home town of Perth following international career pursuits.
The binding contracts include a staged sale of a 90% interest over two years at a $40M enterprise valuation.
We are encouraged by the process, however, there are still elements of the sale to complete.
The completion of stage 1 of MTACI’s acquisition is conditional on some group restructuring being completed.
The club will be making no further comment at this stage.
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