Australia's Peter Warren rises on dealership acquisition

Peter Warren Automotive Holdings

17/05/2023 03:38

** Shares of Peter Warren Automotive  PWR.AX  rise as much
as 4.7% to A$2.650
        ** Stock hits its highest level since April 27
    ** Co says it has signed agreements acquire three New South
Wales dealerships for about A$45 mln ($30.5 mln)
    ** Says dealerships to be acquired are Peter Warren Toyota
at Warwick Farm, Bathurst Toyota and Bathurst Volkswagen
    ** Adds that the acquisition in expected to be immediately
earnings per share accretive after funding costs
    ** Stock has fallen 6.3% this year, as of last close


($1 = 1.4743 Australian dollars)

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