Link Administration (ASX:LNK) said regulatory approvals have been finalised for Dye & Durham’s takeover bid announced in December, with completion expected to occur in June or July.
Under the scheme implementation deed, Link and Dye & Durham have agreed to sell Link’s banking and credit management business, after it concluded discussions with LC Financial following a takeover proposal for the business.
“Link Group is a technology driven provider of mission critical software for financial services and corporate business segments,” said Dye & Durham’s chief executive officer Matthew Proud.
“This acquisition, which is fully funded, will broaden and strengthen our offering in our key markets and enable us to deliver even greater value to our customers over the long term.”
Shares in Link Administration (ASX:LNK) are trading 0.9 per cent higher at $5.14.