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…
-
General20 hours agoFour charged over alleged six-hour gang rape of girl in south-west Sydney
-
Business10 hours ago3 of the best ASX stocks to buy now with $2,500
-
Noosa News22 hours agoLogan City Council to pull out of federal government Climate Active program due to financial pressure, transparency concerns
-
Noosa News19 hours agoSuspicious fire, Glenview – Sunshine Coast