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BRIEF-AP Eagers updates on acquisition of Birrell Motors Group

Published 06/11/2015, 03:22 pm
Updated 06/11/2015, 03:30 pm
© Reuters.  BRIEF-AP Eagers updates on acquisition of Birrell Motors Group
APE
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Nov 6 (Reuters) - AP Eagers Ltd APE.AX :

* Acquisition of birrell motors group APE.AX

* Says total estimated initial consideration of $114 million

* Initial consideration reflects expected sustainable earnings from existing operations of approximately $18 million per annum

* Says subject to conditions, additional deferred consideration of up to $19.8 million will be payable

* Initial consideration will be funded though issue of 2.2 million shares to vendors and cash drawn from available funds, existing debt facilities

* Will also acquire three properties associated with mercedes-benz business in doncaster, blackburn and ringwood, for further $26.05 million

Source text for Eikon ID:nASXc5pT4n

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