Peter Warren Automotive Holdings Limited (ASX:PWR) entered into agreement to acquire Wf Automotive Pty Ltd and Pwa Regional Automotive Pty Ltd from Warren family for AUD 45 million on May 17, 2023. Peter Warren will acquire 80% of the Wf Automotive Pty Ltd and 95% of Pwa Regional Automotive Pty Ltd. Peter Warren will fund the acquisition from existing debt providers under a master debt facility. Combined business Reported Turnover of AUD 180 million on June 30, 2022.

The transaction is still subject to shareholder approval. The transaction is expected to complete in August 2023. Transaction is Expected to be immediately EPS accretive after funding costs.

Gilbert + Tobin acted as legal advisor to Peter Warren Automotive Holdings Limited.