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via finance.yahoo.comBusiness & Companies

Eagers Auto to buy remaining 20% stake in BYD joint venture

FROM THE WIRE · FINANCE.YAHOO.COM

Investing.com-- Australia's Eagers Automotive (ASX:APE) said on Monday it had entered a deal to buy the 20% remaining ownership stake in a joint venture with Chinese electric vehicle maker BYD. Still guessing which stocks will beat the market? Our AI portfolio updates monthly…

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MARKET IMPACTNEUTRAL✦ News Impact agent estimateTone: expected bullishDeal increases an Australian auto retailer's control of a BYD joint venture with estimated earnings accretion, and the stock rose.AI-generated summary
✦ IN BRIEF · AIAI-generated summary
  1. 01Eagers Automotive announced it will buy the remaining 20% stake in its BYD joint venture.
  2. 02Payment will be a combination of cash and stock, and the deal value was not specified.
  3. 03Completion is expected by end-October, with 5.0% to 5.5% earnings accretion.
  4. 04Shares jumped 7% to A$20.05 after the deal.
NEWS IMPACT AND MARKET REACTIONChange from the reference price
Eagers Automotive LimitedAPE.AUStock20.03 AUDMarket closedtoday +7.75%Positive BYD Company Limited1211.HKStock70.85 HKD+0.07%today -1.05%Neutral
Impact and summary are estimates by the News Impact AI agent, not financial advice.Open in Markets

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