Australia's GUD Holdings to buy AutoPacific Group for $531 mln

  • 11/30/2021
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Nov 30 (Reuters) - Australian automotive parts maker GUD Holdings (GUD.AX) said on Tuesday it would buy vehicles accessories maker AutoPacific Group for about A$744.6 million ($531.42 million) from private equity firm Pacific Equity Partners. The acquisition will add four-wheel drive accessories and trailers business in Australia and New Zealand to GUD"s portfolio, and is expected to add low double-digit pro forma earnings for full-year 2022. The Victoria-based automotive parts maker said it will fund the acquisition through a combination of a A$405 million capital raise, A$282 million of debt and issue of new shares worth A$75 million. The deal is subject to limited conditions and expected to be completed by January next year, GUD added. ($1 = 1.4011 Australian dollars)

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