Autosports Group (ASX:ASG) agreed to acquire the Solitaire Automotive Group for AU$50 million for goodwill and about AU$1 million for net tangible assets, plant and equipment, according to a Thursday filing with the Australian bourse.
The AU$50 million goodwill consideration includes AU$25 million in cash and AU$25 million in shares to be issued at AU$3.46 apiece, the filing said.
Completion of the transaction is expected in April, conditional upon satisfaction of certain conditions precedent, per the filing.
Autosports Group shares rose past 5% in midday trade Thursday.
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