Join +750K new investors every month who copy stock picks from billionaire's portfoliosSign Up Free

BRIEF-AMA Group Announces Acquisition Of Suncorp's Capital S.M.A.R.T & ACM Parts Businesses

Published 01/10/2019, 11:40 am
Updated 01/10/2019, 11:50 am
© Reuters.  BRIEF-AMA Group Announces Acquisition Of Suncorp's Capital S.M.A.R.T & ACM Parts Businesses
AMA
-

Oct 1 (Reuters) - Ama Group Ltd AMA.AX :

* ANNOUNCES ACQUISITION OF SUNCORP'S CAPITAL S.M.A.R.T & ACM PARTS BUSINESSES

* EXPECTS ANNUAL SYNERGIES OF APPROXIMATELY $17 MILLION PER ANNUM WHICH ARE EXPECTED TO BE FULLY IMPLEMENTED BY END OF FY21

* TRANSACTION IS EXPECTED TO DELIVER DOUBLE-DIGIT EPS ACCRETION IN FIRST FULL-YEAR OF OWNERSHIP (FY21) ON A PRO-FORMA BASIS

* ONE-OFF SYNERGY IMPLEMENTATION COSTS ARE ESTIMATED TO BE ABOUT $15 MILLION FROM DEAL

* SUNCORP HAS ENTERED A 25 YEAR PLUS SERVICE AGREEMENT COMPRISING A 15.5 YEAR INITIAL TERM AND TWO 5 YEAR RENEWAL OPTIONS

* ANNOUNCES $216 MILLION EQUITY RAISING

* UNDER SERVICE AGREEMENT, CAPITAL S.M.A.R.T REMAINS SUNCORP'S "RECOMMENDED REPAIRER"

* TRANSACTION WILL BE FUNDED THROUGH A FULLY UNDERWRITTEN $216 MILLION EQUITY RAISING AND NEW DEBT FACILITIES

* EQUITY RAISING WILL COMPRISE A 1 FOR 4.5 PRO-RATA ACCELERATED NON- RENOUNCEABLE ENTITLEMENT OFFER TO RAISE ABOUT $139M

* EQUITY RAISING ALSO COMPRISES A PLACEMENT OF APPROXIMATELY 67M SHARES TO RAISE $77M

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.