Australia's Autosports jumps on deal to buy Auckland City BMW in New Zealand

Autosports

11/07/2022 01:47

** Shares of Autosports Group Ltd  ASG.AX  climb as much as
9.1% to A$1.80, their highest since more than a month 
    ** The motor vehicle seller says it has entered a deal to
buy Auckland City BMW Ltd in New Zealand for about NZ$70 million
($43.25 million)  urn:newsml:reuters.com:*:nFWN2YR009
    ** Says deal provides immediate entry in the NZ market 
    ** Adds that the deal is expected to be EPS accretive in
first full year - FY23
    ** Shares see their best session since June 22
    ** Stock has fallen 22.9% this year as of last close

($1 = 1.6184 New Zealand dollars)

 (Reporting by Archishma Iyer in Bengaluru)
 ((Archishma.Iyer@thomsonreuters.com;))