The completion of the transaction is dependent on a capital raising process by AWK and has a $150,000 break clause fee, according to a statement to the ASX.
InvestSMART was acquired by Fairfax in 2007, and provides active investors with low-cost access to online financial information and products.
As part of the agreement, AWK has agreed to maintain the commercial relationship between Fairfax and InvestSMART. This will include the continued sale of display advertising on the InvestSMART website and the promotion of Fairfax products and services to the portal’s readership.
