EBOS Group Ltd
(ASX:EBO) will enter a deal to merge its Chemmart business with the Terry White Group, which it says will create one of Australia’s largest pharmacy networks.
The company says there will be 500 pharmacies in this combined network, and retail turnover will be around $2 billion each year.
EBOS says it will sell the Chemmart business and subscribe for shares in the Terry White Group.
This transaction is dependent on Terry White shareholder approval, and the completion date should be in late October.
The EBOS Group reported a net profit of $60.2 million at 31 December 2015.
