Why the Bapcor (ASX:BAP) share price will be on watch this morning

Bapcor Ltd (ASX: BAP) shares will be on watch this morning. This comes after the company announced its plans to expand in Asia through partly acquiring Tye Soon. At Friday’s market close, the Bapcor share price finished the week at $7.40.

Let’s take a look at what the auto parts retailer announced.

Details of the takeover

The Bapcor share price could be on the move today as investors weigh up the company’s latest update.

According to this morning’s release, Bapcor has executed an agreement for a 25% interest in Tye Soon.

Under the deal, Bapcor will acquire 25% of the issued equity in Tye Soon for an amount of SGD$12.5 million. This…