SPAR Group closes sale of South Africa Meridian stake for R181M; expects $22M total from SA & Brazil

SPAR Group, Inc.

Completed sale of 51% interest in South African JV Meridian for R180.7M (~$10M); 80% received at closing.
Remaining 20% of purchase price due Dec 31, 2024 or 2025 subject to financial triggers.
Also licensing SPAR technology and trademarks to Meridian post-sale.
Combined SA and Brazil divestitures expected to generate ~$22M in cash proceeds (per April 1 press release).
Prior divestitures of China, Australia, and National Merchandising Services JV complete the simplification plan.

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