Australia's Peter Warren hits near 2-week high on buying Penfold Motor

Peter Warren Automotive Holdings

08/11/2021 24:31

** Shares of Peter Warren Automotive Holdings Ltd  PWR.AX 
rise as much as 6% to A$3.180, their highest since Oct 26
    ** The motor vehicle dealer buys Penfold Motor Group, which
operates new and used car dealerships across Melbourne, for an
estimated A$104 mln ($76.94 mln)  urn:newsml:reuters.com:*:nASX448mX2
    ** Says the acquisition consideration will be in the form of
A$88 mln in cash and scrip of A$16 mln
    ** Sees the acquisition to be double-digit EPS accretive on
a pro forma FY22 basis
    ** Stock posts its biggest intraday pct gain since Oct 26
    ** Stock down 13.3% since its IPO debut in late April this
year

($1 = 1.3517 Australian dollars)

 (Reporting by Yamini C S)
 ((Yamini.CS@thomsonreuters.com;))