Australia's Propel Funeral Partners jump on acquiring funeral service businesses

Propel Funeral Partners

12/05/2023 03:40

** Shares of Australia's Propel Funeral Partners Limited
 PFP.AX  rise as much as 4% to A$4.430
    ** Stock set to mark best day since March 15, if current
gains hold 
    ** Death care services company says it has executed binding
legal documentation to acquire two funeral service businesses
and related assets, infrastructure and real estate for up to
A$41.2 million ($27.95 million)
    ** Says co is also expanding its senior debt facilities with
Westpac Banking Corporation by A$55 mln to A$255 mln 
    ** PFP has fallen 1.6% this year, as of last close


($1 = 1.4743 Australian dollars)

 (Reporting by Nausheen Thusoo in Bengaluru)
 ((Nausheen.Thusoo@thomsonreuters.com;))