Australia's Navigator Global climbs on deal to buy stake in Longreach Alternatives

Navigator Global Investments

07/09/2021 03:33

** Navigator Global Investments Ltd  NGI.AX  rises as much
as 2.5% to A$1.860, marking its best day since Aug 20
    ** The holding co says it has signed a definitive agreement
to acquire 32% ownership interest in investment management firm
Longreach Alternatives Ltd  urn:newsml:reuters.com:*:nFWN2Q80CU
    ** Co says it will acquire ownership interest from several
non-employee Longreach shareholders
    ** Says deal investment will be made from co's existing
financial resources and is expected to immediately contribute
to earnings
    ** Stock up 4.3% YTD, as of last close 
    

 (Reporting by Riya Sharma in Bengaluru)
 ((Riya.Sharma@thomsonreuters.com;))