Australia's Bapcor hits over one-month high on Tye Soon stake buyout

Tye Soon

22/03/2021 24:50

** Shares of Bapcor  BAP.AX  rise as much as 1.4% to
A$7.500, their highest since Feb 19 
    ** The auto accessories maker announces that it has signed
agreements to acquire 25% of Singapore-based independent
automotive parts distributor Tye Soon Ltd  urn:newsml:reuters.com:*:nASX1l7rFB
    ** BAP says it will invest about S$12.5 million ($9.30
million) for the stake in Tye Soon
    ** Says completion is expected to take place in April 2021
    ** Stock is set to post its third consecutive session of
gains 
    ** Stock has fallen 4.9% this year as of last close
    
  


($1 = 1.3436 Singapore dollars)

 (Reporting by Vasudha Kaukuntla in Bengaluru)
 ((Vasudha.Kaukuntla@thomsonreuters.com))