Australia's GUD Holdings jumps on RVX acquisition

Amotiv

17/10/2023 24:52

** Shares of GUD Holdings  GUD.AX  jump as much as 1.4% to
A$11.760, their biggest intraday pct gain since Oct 6
    ** The automotive parts maker says it has entered an
agreement to acquire European specialist lighting distribution
business RVX
    ** Says deal for A$12 mln ($7.61 mln) before adjustments
    ** Co says acquisition will be funded from its debt
facilities 
    ** GUD stock up 53% YTD, as of last close 

    


($1 = 1.5778 Australian dollars)

 (Reporting by Echha Jain in Bengaluru)
 ((Echha.jain@thomsonreuters.com))