Arvida Group Limited (NZX:ARV) signed an agreement to acquire Bethlehem Views from Sanderson Group on September 20, 2016. In a related deal, Arvida Group entered into agreements to acquire Copper Crest Village Estate and Lauriston Park on September 20, 2016. The combined purchase consideration for Bethlehem Views, Copper Crest Village Estate and Lauriston Park is NZD 66.4 million. The deals are to be funded through NZD 41.8 million of new equity to be raised by way of a 1-for-7 pro-rata renounceable rights issue at an issue price of NZD 1.05 per share, NZD 18.5 million of shares to be issued to vendors at their request of which NZD 6 million of shares will be escrowed for 12 months and NZD 7.6 million of bank debt from an increased banking facility. The transaction is subject to customary third party approvals. The acquisition is expected to be completed on October 3, 2016. The acquisitions will be immediately accretive to earnings with underlying earnings per share accretion of approximately 6% and an additional $4.4 million of underlying profit anticipated from the acquisitions on a pro forma financial year 2017 basis to Arvida Group.