Oct 1 (Reuters) - Ama Group Ltd (AMA) :
- ANNOUNCES ACQUISITION OF SUNCORP'S CAPITAL S.M.A.R.T & ACM PARTS BUSINESSES
- EXPECTS ANNUAL SYNERGIES OF APPROXIMATELY $17 MILLION PER ANNUM WHICH ARE EXPECTED TO BE FULLY IMPLEMENTED BY END OF FY21
- TRANSACTION IS EXPECTED TO DELIVER DOUBLE-DIGIT EPS ACCRETION IN FIRST FULL-YEAR OF OWNERSHIP (FY21) ON A PRO-FORMA BASIS
- ONE-OFF SYNERGY IMPLEMENTATION COSTS ARE ESTIMATED TO BE ABOUT $15 MILLION FROM DEAL
- SUNCORP HAS ENTERED A 25 YEAR PLUS SERVICE AGREEMENT COMPRISING A 15.5 YEAR INITIAL TERM AND TWO 5 YEAR RENEWAL OPTIONS
- ANNOUNCES $216 MILLION EQUITY RAISING
- UNDER SERVICE AGREEMENT, CAPITAL S.M.A.R.T REMAINS SUNCORP'S "RECOMMENDED REPAIRER"
- TRANSACTION WILL BE FUNDED THROUGH A FULLY UNDERWRITTEN $216 MILLION EQUITY RAISING AND NEW DEBT FACILITIES
- EQUITY RAISING WILL COMPRISE A 1 FOR 4.5 PRO-RATA ACCELERATED NON- RENOUNCEABLE ENTITLEMENT OFFER TO RAISE ABOUT $139M
- EQUITY RAISING ALSO COMPRISES A PLACEMENT OF APPROXIMATELY 67M SHARES TO RAISE $77M
News: SUN AMA Group Announces Acquisition Of Suncorp's Capital S.M.A.R.T & ACM Parts Businesses
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