Australia's Ridley Corp hits record high on $35 mln purchase deal

Ridley

18/12/2023 02:23

** Shares of Ridley Corp  RIC.AX  rise as much as 6% to an
all-time high of A$2.480 
    ** Stock posts its biggest intraday pct gain since Aug 17 
    ** The animal feed producer says its  units - CSF Australia
Subsidiary Pty Ltd and CSF Protein NZ Ltd - to acquire Oceania
Meat Processors NZ LP 
    ** Says acquisition is for NZ$57 mln ($35.43 mln) and will
be fully funded from debt facilities 
    ** Adds deal is expected to be EPS-accretive in the first
year post transaction
    ** About 535,279 shares change hands, compared with the
30-day average volume of 515,284 shares
    ** Stock up 18.2% this year, as of last close

   ($1 = 1.6088 New Zealand dollars)

 (Reporting by Sneha Kumar in Bengaluru)
 ((Sneha.Kumar@thomsonreuters.com;))