AP Eagers (ASX:APE) completes sale of Newcastle and Hunter properties to Tony White Group

Company News

by Anna Napoli

AP Eagers (ASX:APE) has sold its freehold properties in the Newcastle and Hunter Valley region to the Tony White Group.

The sale completed yesterday at a price of $52.9 million.

The sale will generate a profit before tax of approximately $13.4 million, subject to audit review.

The news follows the company’s acquisition of Automotive Holdings Group in October.

Shares in AP Eagers (ASX:APE) are trading 0.33 per cent higher at $12.19.