Eagers Automotive Limited (ASX:APE) agreed to acquire WFM Motors Pty Ltd for AUD 205 million on March 30, 2022. The annual turnover of the dealership group is approximately AUD 450 million and there are approximately 400 employees who will remain with the business ensuring a smooth transition for customers, staff and our OEM partners. The transaction is subject to customary conditions precedent including finalisation of due diligence, transaction documentation, finance approval, and OEM and landlord consents.

The transaction is also subject to shareholder approval. The acquisition is expected to complete in late July 2022.