Australia's ARB Corp gains as its associate acquires US business

ARB

09/09/2024 03:27

** Shares of ARB Corporation  ARB.AX  rise 6.1% to A$42.295,
set for their best day since Aug. 20, if gains hold
    ** Motor vehicle parts maker says its U.S. based associate 
ORW USA entered into an agreement to acquire the 4 Wheel Parts
business from vehicle enhancements provider Hoonigan
    ** Co says, the acquisition is for $30 million and would
increase ARB's shareholding in ORW from 30% to 50%
    ** ARB stock up 10.8% YTD as of last close
 

 (Reporting by Ayushman Ojha in Bengaluru)
 ((Ayushman.ojha@thomsonreuters.com;))