Bell Financial Group has agreed in principle to purchase investment and financial services firm Tricom Group.
A heads of agreement has been signed for the acquisition and the transaction will progress subsequent to the performance of due diligence procedures.
Consideration for the purchase is to be made up of an injection of capital from Bell Financial into Tricom. In addition, an earn-out arrangement will be negotiated for Tricom shareholders that will be dependent on agreed performance targets.
The due diligence process is expected to be completed on March 7.
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