Arvida Group Limited (NZX:ARV) signed an agreement to acquire Copper Crest Village Estate on September 20, 2016. As on March 31, 2017, the total consideration of NZD 28.1 million was settled by way of NZD 19.6 million cash and NZD 8.5 million shares in Arvida Group Limited. In related transactions, Arvida Group Limited (NZX:ARV) signed an agreement to acquire Neil RV Cambridge Limited from The Neil Group and Bethlehem Views from Sanderson Group on September 20, 2016. The purchase price of all the three acquisitions is NZD 66.4 million. The acquisition is to be funded through NZD 41.8 million of new equity is to be raised by way 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 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 complete in early October, 2016. The acquisitions will be immediately accretive to earnings with underlying earnings per share accretion of approximately 6% on a pro forma FY17 basis relative to broker consensus estimates.