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BRIEF-Genuine Parts to acquire Alliance Automotive Group in $2 bln deal
September 25, 2017 / 11:13 AM / 3 months ago

BRIEF-Genuine Parts to acquire Alliance Automotive Group in $2 bln deal

Sept 25 (Reuters) - Genuine Parts Co:

* Genuine Parts Company enters definitive agreement to acquire Europe’s alliance automotive group

* Genuine Parts Co - ‍acquisition is valued at a total purchase price of approximately $2 billion​

* Genuine Parts Co - ‍company expects acquisition to be immediately accretive to earnings in first year after closing.​

* Genuine Parts Co says ‍expects acquisition to be immediately accretive to earnings in first year after closing​

* Genuine Parts Co - ‍intends to finance transaction, including pay-off of AAG’s existing debt arrangements, with approximately $2 billion of debt financing​

* Genuine parts -‍for 2018, incremental diluted EPS estimated at $0.45 to $0.50 and adjusted EPS estimated at $0.65 to $0.70, which excludes items

* Genuine parts co says ‍transaction has been approved by board of directors of GPC​ Source text for Eikon: Further company coverage:

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