Stocks of the Hour: Telstra, Charter Hall & Eagers Automotive

Company News

by Lauren Evans

Telstra (ASX:TLS) has appointed Vicki Brady as its new chief executive officer (CEO), replacing Andrew Penn who announced his intention to retire after serving more than seven years in the role. Vicki has been Telstra’s chief financial officer since 2019, and will officially take over as CEO on September 1. Shares are trading 0.4 per cent lower at $3.92.

The partnership comprising Charter Hall (ASX:CHC) and Dutch pension fund PGGM are set to acquire Irongate for $1.90 per security with Irongate security holders entitled to retain the dividend for the period ending March 31. The deal will see Charter Hall retain a 12 per cent stake, with Dutch pension fund PGGM owning the remaining 88 per cent. Shares are trading over 2 per cent higher at $16.53.

Eagers Automotive (ASX:APE) is in talks with WFM Motors to acquire a portfolio of dealerships in Canberra, ACT for around $205 million. The auto-parts retailer said the dealerships operate across 10 owned properties and three commercially leased sites, with an annual turnover of around $450 million. Shares are trading 1.6 per cent higher at $14.31.

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