CYG coventry group limited
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News: CYG Coventry Enters Deal To Acquire 100% Of Shares Of Steel Masters Auckland

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    15/04/24
    11:30
    Post #: 73346858

    April 15 (Reuters) - Coventry Group Ltd (CYG) :

    • ENTERED AGREEMENT TO ACQUIRE 100% OF SHARES OF STEEL MASTERS AUCKLAND LIMITED
    • TO ACQUIRE AUSTRALIA AND NEW ZEALAND BASED STEELMASTERS GROUP FOR A$42.1 MILLION
    • DEAL FUNDED BY DEBT WITH NAB REVOLVING CASH ADVANCE FACILITY AND A$25.0 MILLION PLACEMENT
    • ACQUISITION TO RESULT IN PRO FORMA FY24F EPS ACCRETION OF 31% (INCLUDING SYNERGIES)
    • ALSO UNDERTAKING A A$2.0 MILLION NON-UNDERWRITTEN SHARE PURCHASE PLAN

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-0.025(3.45%) 		Mkt cap ! $83.50M
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