Eagers Automotive in $1b Canadian acquisition; BJ, Morgans raise $452m

Eagers Automotive in $1b Canadian acquisition; BJ, Morgans raise $452m

Eagers Automotive had Barrenjoey and Morgans lining up a $452 million raising on Wednesday morning for an M&A bet to expand into North America.

Eagers Automotive expands in Canada with $1B investment - Prime Mover Magazine

Image: frank29052515/stock.adobe.comAustralia’s largest automotive retail group, Eagers Automotive, has entered into a definitive share purchase agreement with CanadaOne. Today Eagers announced it was looking to acquire a 65 per cent equity interest in the holding company of CanadaOne from entities associated with Founder Pat Priestner for AUD$1.043 billion. The acquisition consideration comprises a AUD$658 million cash […] The post Eagers Autom…

Eagers Automotive Makes $1 Billion Canadian Acquisition

Eagers Automotive, Australia’s largest car dealership, is making headlines with a $1 billion acquisition in Canada. To facilitate this significant North American purchase, Barrenjoey and Morgans managed a capital raising this morning. Eagers Automotive operates as a diversified automotive retail group, engaging in the sale of new and used vehicles, as well as related services. The company has a wide network of dealerships across Australia and is…