Disruptive Investment Group Limited (ASX:DVI) entered a binding term sheet to acquire remaining 50% stake in Find Solutions Australia Pty Ltd. from Mark Mendel and Marshe Nominees for AUD 6.4 million on March 29, 2016. AUD 1.5 million in cash will be paid in 3 tranches. AUD 0.5 million will be paid on closing, AUD 0.5 million on December 31, 2016 and remaining on May 1, 2017. 245.75 million Disruptive Investment (DVI) shares will be issued which will be subject to escrow restrictions for 24 months post completion. A definitive agreement was entered into on July 29, 2016. The deferred cash portion of the consideration shall be funded through a vendor financing of AUD 1 million. Mark Mendel has agreed to accept approximately 75% of the purchase price in DVI scrip. Enterprise value of AUD 11.8 million is 11 times that of year 2015 Operating EBITDA and 4 times that of 2015 revenue. Founder and Chief Executive Officer Mark Mendel will remain as Chief Executive Officer of iBuyNew.com.au (IBN) and will also join the DVI Board as an Executive Director subject to shareholder approval. Andrew Jensen, currently a Non-Executive Director of DVI, will become an Executive Director of DVI to assist in leading the future growth of DVI and IBN. The transaction is subject to ASX confirmations, all parties receiving satisfactory accounting, tax and legal advice, DVI obtaining requisite shareholder approvals, execution of definitive transaction documents and the execution of an escrow deed. DVI intends to hold a shareholders meeting before the end of the financial year. As of July 29, 2016, DVI announced that a shareholders' meeting shall be held in mid-October 2016 so as to approve the transaction. As of September 30, 2016, it was announced that the shareholders' meeting shall be held on October 31, 2016. The Board of Directors issued a favorable recommendation on the transaction in a proxy statement published on September 30, 2016. The independent expert also issued a favorable recommendation on the transaction. Transaction will complete on or before July 1, 2016. As of July 29, 2016, the transaction was expected to close in mid to late October 2016. As of September 30, 2016, the expected closing was revised to October 31, 2016. As of October 31, 2016, the transaction is approved by the shareholders of iBuynew. Faris Habib of NWR Communications acted as the public relations advisor on behalf of the deal. J P Van Dieren of Stantons International Securities Pty Ltd acted as the financial advisor to DVI. Disruptive Investment Group Limited (ASX:DVI) completed the acquisition of the remaining 50% stake in Find Solutions Australia Pty Ltd. from Mark Mendel and Marshe Nominees on October 31, 2016.