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Eagers Automotive Limited ( (AU:APE) ) has shared an announcement.
Eagers Automotive Limited announced several strategic developments, including the acquisition of a 65% equity interest in CanadaOne Auto, one of Canada’s largest dealership groups, for A$1,043 million. Additionally, Mitsubishi Corporation has agreed to acquire a 20% equity interest in Eagers’ pre-owned car business, easyauto123, for A$70 million. To fund these initiatives, Eagers is raising equity through a strategic placement to Mitsubishi Corporation and a pro-rata entitlement offer. These moves signify a pivotal expansion for Eagers, enhancing its domestic and international market presence.
The most recent analyst rating on (AU:APE) stock is a Buy with a A$32.00 price target. To see the full list of analyst forecasts on Eagers Automotive Limited stock, see the AU:APE Stock Forecast page.
More about Eagers Automotive Limited
Eagers Automotive Limited is a prominent player in the automotive industry, primarily focusing on the sale of new and pre-owned vehicles. The company operates in Australia and New Zealand and has a significant presence in the automotive dealership sector. Eagers Automotive is also involved in automotive auctions through its majority shareholding in Carlins Automotive Auctioneers.
Average Trading Volume: 429,028
Technical Sentiment Signal: Buy
Current Market Cap: A$7.43B
See more insights into APE stock on TipRanks’ Stock Analysis page.