Eagers Automotive Ltd (ASX: APE) acquires WFM Motors Canberra portfolio for $205m
Eagers Automotive Ltd (ASX: APE) has entered into a non-binding agreement with WFM Motors Pty Ltd and its associated entities to acquire a portfolio of dealerships and associated properties located in Canberra, Australia Capital Territory (ACT). Eagers Automotive has agreed to acquire the dealership group and properties for a total purchase price of approximately $205m. Eagers Automotive CEO Keith Thornton said ‘The ACT is a key strategic region and has long been identified by Eagers Automotive as an opportunity to grow our national footprint’.
Following the announcement, Eagers Automotive Ltd shares rallied 2.91% to $14.50/share.
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