On 13 December 2007 APE announced the acquisition of this Bill Buckle automotive group for A$36 million including buildings, goodwill and land:
https://www.eagersautomotive.com.au/pdfs/Bill%20Buckle%20ASX%20release.pdf
The investment has therefore grown about seven per cent per annum, plus any profits APE earnt from sales and servicing of motor vehicles over that time.
Quite a good return given that the sales returns could have been quite high as I assume motor cars have a healthy margin when we purchase a new vehicle.
I am no expert but has the land in APE's view become so valuable (and in the short term given world events including inflation and interest rates) likely to not deliver such a good return that it decided 'time to sell'?
APE is on record as saying that some parts of Melbourne and Sydney are not ideal for dealerships due to high land value.
Ann: Eagers Automotive to sell Bill Buckle Auto Group, page-2
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$10.12 |
Change
-0.060(0.59%) |
Mkt cap ! $2.612B | |||
| Open | High | Low | Value | Volume |
| $10.11 | $10.23 | $10.04 | $8.768M | 867.6K |
Buyers (Bids)
| No. | Vol. | Price($) |
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| 1 | 4536 | $10.12 |
Sellers (Offers)
| Price($) | Vol. | No. |
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| $10.13 | 7928 | 6 |
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| Last trade - 16.10pm 17/06/2024 (20 minute delay) ? |
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$10.06 |
Change
-0.060 ( 1.18 %) |
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| Open | High | Low | Volume | ||
| $10.14 | $10.22 | $10.04 | 120658 | ||
| Last updated 15.59pm 17/06/2024 ? | |||||
| APE (ASX) Chart |
