Peter Warren Automotive completes Wakeling deal
- Peter Warren completed its acquisition of Wakeling Automotive effective Oct. 1.
- The regulatory approval requires the company to divest eight dealerships.
- The deal forms part of the ongoing corporate growth strategy.
Peter Warren Automotive (ASX:PWR) finalised the acquisition of Wakeling Automotive effective Oct. 1 following regulatory approval.
The completion follows recent clearance from the Australian Competition and Consumer Commission, which made approval conditional on selling eight dealerships.
"This acquisition, comprising some of Australia's leading brands, represents an important step in the Peter Warren growth strategy," said Peter Warren CEO Andrew Doyle.
The company stated that it will continue working to satisfy the divestment conditions set by the regulator.
Following the announcement, the Peter Warren share price was up at $0.725.
The automotive dealership group operates across eastern Australia, representing major international car brands.
The business continues to execute its strategy through selective acquisitions alongside its existing dealership networks.
