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BRIEF-FlexiGroup says acquisition of Fisher & Paykel Finance

Published 27/10/2015, 09:30 am
© Reuters.  BRIEF-FlexiGroup says acquisition of Fisher & Paykel Finance

Oct 27 (Reuters) - FlexiGroup Ltd FXL.AX :

* Acquisition of fisher & paykel finance FXL.AX

* Says acquisition of fisher & paykel finance for A$275 million (NZ$294 million)

* Says launch of fully underwritten non-renounceable entitlement offer

* Acquisition is expected to be high single digit cash EPS accretive on a pro-forma basis, including expected synergies2

* Says FlexiGroup reaffirms FY 2016 cash npat guidance of A$92 million-A$94 million

* Says upfront cash consideration to be funded through A$150 million fully underwritten accelerated non- renounceable entitlement offer

* Founder and chairman Andrew Abercrombie, who owns 25.4% of fxl, to take up a total of 71% of full entitlement

* Will today launch a 1 for 4.46 pro-rata accelerated non-renounceable entitlement offer to raise approximately A$150 million

* Says offer price of A$2.20 per new share

* Says dividend guidance is also reaffirmed, with FY 2016 dividend expected at the lower end of 50-60% of cash npat

* Source text for Eikon ID:nASX6psL3S

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