The wife of the former Australian prime minister Kevin Rudd, Therese Rein, is set for a massive windfall after agreeing to the sale of her multinational jobseeker business in a deal worth up to $225m.
Rein has agreed to sell Ingeus to US-based employment company Providence Service Corporation, but will stay on as the managing director of the company.
Providence will pay £35m ($63.27m) in cash and a further £14.3m ($25.93m) in restricted stock and cash for Ingeus, which provides assistance to the long-term unemployed.
Rein and her business partners also stand to receive up to £75m ($135.57m) over the next five years through an earn-out agreement.
Ingeus was founded by Rein in 1989 and now operates in 10 countries, with more than 70% of its business in the UK.
She sold the company's Australian operations before her husband's victory in the the 2007 federal election.
"Providence will provide the financial underpinning and complementary know-how, which will enable us to fully achieve our goals," Rein said on Tuesday.
"We expect the scale and collective capabilities of the combined businesses will enhance our service delivery and open doors for winning new business."
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