iBuyNew Group Limited (ASX:IBN) entered into an asset sale agreement to acquire the assets of Indo-Pacific Property from McRae Investments Pty Ltd for AUD 1 million on August 22, 2017. The acquisition includes a AUD 2.6 million future commissions receivable book, a property management business and rent roll and all associated brand and intellectual property. As consideration, iBuyNew Group Limited will issue a total of 208.33 million shares in two tranches, with an upfront consideration of 166.67 million shares and deferred consideration of 41.67 million shares, subject to transition milestones. iBuyNew Group Limited also agreed to pay the vendors 50% of the commissions received from the future commissions receivable book in excess of AUD 0.25 million. Upon completion, Executive Chairman of Indo-Pacific Property, Stephen Quantrill will join the Board of iBuyNew Group Limited. The transaction is subject to various conditions including regulatory and licensing approvals and confirmations and approval by the shareholders of iBuyNew Group Limited. Shareholders’ meeting of iBuyNew Group Limited will be held on November 21, 2017. The transaction has been approved by the shareholders of iBuyNew Group Limited on November 21, 2017. Deal is expected to be accretive to iBuyNew Group Limited' revenue and earnings. iBuyNew Group Limited (ASX:IBN) completed the acquisition of Indo-Pacific Property from McRae Investments Pty Ltd on February 20, 2018. All conditions are fulfilled.