Australia’s largest independent digital media company, destra Corporation Limited (ASX:DES), has moved closer to finalising the divestment of destra Hosting to BlueFreeway, with the lodgement of the BlueFreeway prospectus with ASIC on Friday, November 24, 2006.
Digital and interactive marketing communications company, BlueFreeway will acquire destra’s web-hosting division for a total final price of $19 million, as announced to the market on November 8, 2006. The transaction is subject to BlueFreeway listing.
BlueFreeway has advised that it anticipates listing on December 22, 2006.
The sale price is comprised of $18 million cash and $1 million in BlueFreeway shares.
Bell Potter Securities Ltd is underwriting the $36 million capital raising.
A copy of the BlueFreeway prospectus is available from www.BlueFreeway.com.