Skydive the Beach to snap up chopper business for $19.6m

Company News

by Jessica Amir

Skydive the Beach (ASX:SKB) is acquiring 100 per cent of GBR Helicopters for a maximum price of $19.6 million.

The acquisition will be funded by its $20 million institutional placement, completed yesterday.

The chopper firm will be accretive to its earnings on yearly basis, and enhance its leading position in the adventure tourism space.

As part of the deal, it will also snap up the businesses fleet of 22 helicopters, while also paying down its debt.

The agreement will be completed on the 1 November. 

Shares in Skydive the Beach (ASX:SKB) are trading 9.15 per cent to 78 cents.

 

Jessica Amir

Finance News Network
Jessica joined FNN in January 2017 after having worked in financial advising for seven years and in TV journalism for seven years, specialising in finance, equities and analysis. She has interviewed former Prime Ministers of Australia, Tony Abbott, Julia Gillard and Kevin Rudd and ex Treasurer Jo Hockey. Jessica has worked as a journalist with Sky News Business, ABC 1, ABC's The Business, ABC24 and has also been a regional Channel 7 and 9 TV reporter with Prime7 and Win News.