Autosports Group (ASX:ASG) agreed to acquire 10 Barry Bourke Motors dealerships in Victoria, to be held by its Autosports Castle Hill unit, for about AU$34 million, according to a Friday filing with the Australian bourse.
About AU$14 million will be paid via the issue of the company's shares at AU$4.50 apiece, while the cash portion will be funded by existing debt, the filing said.
The deal is expected to be immediately accretive to earnings and to be completed by December, the filing added.
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