Fullshare Holdings Limited (SEHK:607) agreed to acquire 90% stake in Sparrow Early Learning Pty Ltd. on December 9, 2016. The purchase price will be paid as a deposit of AUD 0.77 million, a cash consideration of AUD 66.45 million less the deposit, subscription amount and retained subscription amount. Earn out amount will be paid in cash or shares based on financial performance and will not exceed AUD 8.1 million. Transaction will be funded from internal resources. For the year ended June 30, 2016, the target group reported net loss of AUD 3.7 million and net liabilities of AUD 1.74 million. Deal will be subject to the listing of consideration shares and shareholders approving the issue of shares. Transaction is expected to complete by December 16, 2016. Sophie Chen, Michael Scarf, Sophia Bai, Dimitri Kalis, Alessar Elsayed, Stephanie Dellosa, Jason Namkoong, Will Ma, Kathleen Ng, Benjamin Wu, Gordon Williams, Bernadette McCabe, Ashleigh Fehrenbach, Kemsley Brennan, James Stanton, Daniel Bunoza, Kendall Harris, Ashlee Zileski, David Moore, Mellissa Lai and Kelvin Nguyen of Minter Ellison acted as legal advisor for Fullshare Holdings Limited. CBP Lawyers acted as legal advisor for Sparrow Early Learning Pty Ltd. Fullshare Holdings Limited (SEHK:607) completed the acquisition of 90% stake in Sparrow Early Learning Pty Ltd. for AUD 81 million on January 20, 2017. The purchase price is comprised of cash consideration of AUD 72.9 million and the Group would pay extra earn out payment of not more than AUD 8.1 million if Sparrow Early is able to meet the required profit goal.