NRW to Acquire BHC Contracting

November 28, 2019 01:56 PM AEDT | By Team Kalkine Media

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Contract services provider, NRW Holdings Limited (ASX: NWH) has executed an agreement to acquire BGC Contracting for an equity value of $116.4 million and an implied enterprise value of $310 million.

The acquisition delivers a value accretive step change in scale and diversity for NRWâs business across Australia.

NRW is undertaking a fully underwritten placement to raise $120 million and it also intends to undertake a share purchase plan (SPP) capped at $10 million.

At AEST 01:04PM, the stock was trading at $2.830 per share, no change from its previous close.

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