SLM today completed the sale of the Australian operations of fast growing pre-paid mobile phone technology, recharge and distribution company Ezipin Group Limited to market leader Bill Express Limited (ASX: BXP) for a combination of cash and shares. In this transaction, SLM also advised on related research and development funding and put and call option agreements involving BXP’s parent company Australian Pure Fruits Limited (ASX: AFL) and Ezipin’s Canadian subsidiary Ezipin Canada Inc.
The sale also marks the successful exit, at a significant profit to their entry price, of the investments of both convertible noteholders and shareholders, arranged by SLM from its network of high net worth investors, in two separate private equity funding rounds late last year.
The successful sale to BXP followed a dual track IPO/ trade sale strategy in which SLM acted as advisor to the Ezipin Group.
To enquire further about SLM’s role in this transaction, please contact:
Ph: 03 9629 4411