Australia's MAAS Group gains on buying controlling stake in road maintenance firm

MAAS group

26/04/2023 04:53

** Shares of Australia's MAAS Group  MGH.AX  rise as much as
3.4% to A$3.05, their highest since Feb. 20
    ** The construction materials provider enters into binding
agreement to acquire 75% stake in road maintenance firm Austek
Group 
    ** Says deal for A$39 million($25.79 million) in cash
    ** Stock posts biggest intraday gain since March 30
    ** Stock up 10.9% this year as of last close 


($1 = 1.5124 Australian dollars)

 (Reporting by Rishav Chatterjee in Bengaluru)
 ((Rishav.Chatterjee@thomsonreuters.com;))