AP Eagers to compulsorily acquire remaining AHG shares

Company News

by Anna Napoli

A.P. Eagers (ASX:APE) has today announced that it now holds over 91 per cent interest in Automotive Holdings Group .

As its interest exceeds 90 per cent, AP Eagers intends to compulsorily acquire the remaining AHG shares and will update the market when that process has started.

The off-market takeover offer will close at 7.00pm (Sydney time) today and will not be extended.

The deal will create Australia's biggest car dealership group with 229 locations and 12 per cent of the Australian new car market.

Shares in AP Eagers closed 0.68 per cent higher to $13.30 on Friday.  

Anna Napoli

Finance News Network
Anna joined FNN February 2018 and also works with Channel 7 as a freelance producer. Anna has also worked as a lawyer and lecturer. She has also presented news updates for interstate news with Southern Cross Austereo.