Autosports Group (ASX:ASG) agreed to acquire the Solitaire Automotive Group for AU$50 million for goodwill and about AU$1 million for net tangible assets, plant and equipment, according to a Thursday filing with the Australian bourse.

The AU$50 million goodwill consideration includes AU$25 million in cash and AU$25 million in shares to be issued at AU$3.46 apiece, the filing said.

Completion of the transaction is expected in April, conditional upon satisfaction of certain conditions precedent, per the filing.

Autosports Group shares rose past 5% in midday trade Thursday.