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BRIEF-Webjet Ltd to acquire Online Republic group of companies

Published 06/06/2016, 10:01 am
Updated 06/06/2016, 10:10 am
© Reuters.  BRIEF-Webjet Ltd to acquire Online Republic group of companies
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June 6 (Reuters) - Webjet Ltd WEB.AX :

* Acquisition of Online Republic and capital raising WEB.AX

* Acquisition estimated to be double-digit EPS accretive in FY 2016 on a pro-forma basis

* Senior management of online republic to be retained, with vendors to receive Webjet shares for 22% of the purchase price

* Entitlement offer is a fully underwritten pro rata accelerated non-renounceable entitlement offer to raise approximately A$72 million

* Online republic's earnings growth expected to be consistent with webjet's b2c EBITDA cagr target

* Acquisition will be funded by fully underwritten accelerated non-renounceable entitlement offer and issue of new Webjet shares to vendors

* Acquisition of online republic, with over NZ$200 million in total transaction value

* Source text for Eikon ID:nASXbCTf90

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