Australia's Superloop jumps on buying internet provider for $23 mln

Superloop

26/09/2022 02:22

** Shares of Superloop  SLC.AX  gain as much as 2.6% to
A$0.595 in their biggest intraday pct rise since Sept. 8 
    ** Fibre network operator announces acquisition of
Australia's VostroNet Holdings, a co which provides internet to
residential buildings, student accommodation and hotels
 urn:newsml:reuters.com:*:nASX8GCYyK
    ** Deal for A$35 mln ($22.78 mln), with A$24.5 mln in cash
and rest in SLC shares
    ** On FY23 full-year pro forma basis, acquisition expected
to contribute A$4.6 mln to total EBITDA (before synergies)
    ** Stock down 51.3% this year, as of last close
($1 = 1.5363 Australian dollars)
 (Reporting by Harish Sridharan in Bengaluru)
 ((harish.sridharan@thomsonreuters.com))