Bapcor (ASX:BAP) acquires 25% stake in Tye Soon (SGX:BFU)

Company News

by Michael Luu

Automotive parts and accessories provider Bapcor (ASX:BAP) has today announced the acquisition of 25 per cent of total shares in Tye Soon (SGX:BFU) for $12 million.

The Singapore-domiciled parts distributor currently possesses 20 branches in South Korea and Australia and a distribution network of 18 sites in South East Asia. The company’s gross annual revenue is estimated at $192 million. Bapcor’s purchase of a significant stake in Tye Soon will pave the way for further collaboration as the two sides aim to complement each other with their respective strengths in auto parts and access to markets.

Shares in Bapcor (ASX:BAP) are trading 0.95 per cent higher at $7.47

Are you a 708 sophisticated investor?

A sophisticated investor is defined under Section 708 of the Corporations Act (net assets of $2.5 million or annual incomes in excess of $250,000).

They are eligible to receive information regarding wholesale investment opportunities that are not available to regular or retail investors.

Please subscribe if you would like to be alerted to these types of opportunities.