Peter Warren announced to acquire dealerships for Toyota and Volkswagen

Peter Warren Automotive Holdings Limited (ASX: PWR) announced that it has entered into agreements to purchase a majority stake in three New South Wales (NSW) dealerships for an estimated total price of AU$45 million, which includes both goodwill and net assets. The three dealerships that will be acquired are Bathurst Toyota, Peter Warren Toyota at Warwick Farm, and Bathurst Volkswagen.

The Warren family, a substantial stakeholder of Peter Warren, owns the majority of the companies. With no new security, Peter Warren will fund the transaction from current debt providers via a master debt arrangement. The Company can take on debt and unsecured assets for potential future acquisitions. The acquisition is anticipated to increase EPS when funding costs are taken into account instantly.

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