Field Solutions Holdings Limited (ASX:FSG) Announces Sale of Mining Customer Base
Sale Details
Field Solutions Holdings Limited (ASX:FSG) has entered into a binding heads of agreement to sell its mining customer base to PIT Mining IT Pty Ltd for $4.975 million. The sale includes 80 customers and 21 staff, subject to working capital and other adjustments, with $1.975 million contingent on performance conditions. The agreement is pending finalisation by 1 March 2025.
Financial Impact
FSG anticipates a reduction of $4.8 million in operating expenses and $12 million in gross revenue as a result of the sale. This divestment aligns with the company’s strategy to reduce revenue concentration and mitigate high-capex project risk.
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