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 is a senior finance journalist and presents the Market Outlook, Market at Midday and Market Wrap. She also presents ASX company news and interviews CEOs. She joined FNN in January 2017 with six years of broadcast journalism experience. She worked as a journalist and producer with Sky News Business, ABC 1, ABC's The Business and ABC24. She also worked in regional Australia for Prime 7 and WIN News as a TV reporter. In her prior life she worked as a financial planner.