Business
Here’s why GUD (ASX:GUD) is acquiring this AMA (ASX:AMA) business for $70m
The AMA Group Ltd (ASX: AMA) share price is pushing higher on Thursday after announcing the divestment of its ACAD business to GUD Holdings Limited (ASX: GUD).
At the time of writing, the AMA share price is up 2% to 84 cents, whereas the GUD share price is in a trading halt.
What was announced?
This morning the two companies revealed that they have entered into a $70 million agreement for AMA’s ACAD business, excluding the ACM Auto Parts and Fluiddrive businesses. This figure remains subject to customary purchase price adjustments and capex adjustments.
AMA revealed that its board has been reviewing its strategic objectives to determine its optimal focus.
And while it notes that the ACAD business is a strong well performing…
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