Cuscal Limited agreed to acquire unknown minority stake in Basiq Pty Ltd from Touch Ventures Limited (ASX:TVL) for AUD 14.2 million on March 10, 2023. Marko Komadina, Jennifer Dean, Jan Dransfield and Ravi de Fonseka of Johnson Winter & Slattery acted as legal advisor to Cuscal Limited.

Cuscal Limited completed the acquisition of unknown minority stake in Basiq Pty Ltd from Touch Ventures Limited (ASX:TVL) on March 29, 2023. Touch Ventures hereby confirms that all the conditions of the sale agreement have been satisfied and the transaction has now been completed. As a result, the Touch Ventures has received AUD 13.9 million of cash proceeds from the sale. The Touch Ventures is expecting some minor post completion adjustments and is also entitled to a further AUD 0.8 million as part of the final cash consideration, which remains subject to escrow arrangements for a period of up to two years and will be released subject to any claims made by the buyer against the sellers of Basiq.