Australia's Eagers Automotive rises on deal with Ferrari, Lamborghini dealer
10/09/2026 01:50
BUZZ-Australia's Eagers Automotive rises on deal with Ferrari, Lamborghini dealer ** Shares of Eagers Automotive APE.AX rise as much as 2.3% to A$20.16, on track to snap a two-session losing streak, if gains hold
** APE enters an agreement to buy 50% interest in the Zagame Automotive Group, with business to operate as JV between company and Zagame founder Bobby Zagame
** Zagame posted ~A$600 million ($432.96 million) revenue in FY26, and is the exclusive dealer for Ferrari, McLaren, Lamborghini and Rolls-Royce in Victoria, among others
** Company expects investment to be immediately earnings accretive
** YTD, APE shares down 18.2%
($1 = 1.3858 Australian dollars)
(Reporting by Nichiket Sunil in Bengaluru)