Sime Darby Agrees to Buy New Zealand's Gough Group for $136 Million
13 August 2019 - 8:01AM
Dow Jones News
By Yantoultra Ngui
KUALA LUMPUR, Malaysia--Sime Darby Bhd. (4197.KU) has entered
into an agreement to buy New Zealand's Gough Group Ltd. from Gough
Holdings Ltd. for $211 million New Zealand dollars ($136
million).
The Malaysian logistics and automotive group said Tuesday that
the deal will help it expand its presence in New Zealand and
Australia. Gough Group is Caterpillar Inc.'s (CAT) dealer in New
Zealand and has interests in transport and materials-handling
businesses in New Zealand and Australia, Sime Darby said.
Sime Darby said in a stock-exchange filing that it will wholly
fund the transaction with bank loans.
The deal is expected to be completed by Sept. 30, it said.
Write to Yantoultra Ngui at yantoultra.ngui@wsj.com
(END) Dow Jones Newswires
August 13, 2019 01:46 ET (05:46 GMT)
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