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BRIEF-Steadfast Group To Acquire 100% Of Whitbread Insurance Group For $95 Million‍​
December 4, 2017 / 12:13 AM / 15 days ago

BRIEF-Steadfast Group To Acquire 100% Of Whitbread Insurance Group For $95 Million‍​

Dec 4 (Reuters) - Steadfast Group Ltd:

* TO ACQUIRE 100% OF WHITBREAD INSURANCE GROUP FOR A PRICE OF $95 MILLION‍​

* ACQUISITION IS EXPECTED TO BE EARNINGS ACCRETIVE IN FY18​

* ‍UNDERLYING EPS (NPAT) ACCRETION IS EXPECTED TO BE ABOUT 3% IN FY18 ON AN ANNUALISED BASIS​

* CO INTENDS TO FUND WHITBREAD ACQUISITION THROUGH UNDERWRITTEN INSTITUTIONAL PLACEMENT OF $100 MILLION TO EXISTING AND NEW SHAREHOLDERS​

* EXPECTED THAT CO‘S SHARES WILL REMAIN IN TRADING HALT WHILE PLACEMENT IS CONDUCTED UNTIL 5 DECEMBER 2017​

* CO INTENDS TO RAISE A MAXIMUM OF $25 MILLION Source text for Eikon: Further company coverage:

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