Update on Wakeling Automotive Acquisition

Key points

• ACCC approves acquisition of Wakeling Automotive
• Acquisition subject to 14-day review period
• Expected completion in the coming weeks
• Strengthens Peter Warren's business strategy

Full summary

Peter Warren Automotive Holdings Limited (ASX: PWR) is pleased to announce that the Australian Competition and Consumer Commission (ACCC) has approved its proposed acquisition of Wakeling Automotive, subject to a mandatory 14-day review period. This acquisition represents a significant step in Peter Warren's strategy to strengthen and grow its business. The company operates over 80 franchise operations and represents more than 30 OEMs across various segments. The acquisition is expected to complete in the coming weeks.

Outlook

The acquisition is expected to strengthen Peter Warren's business and is anticipated to complete shortly.