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Australia's Eagers Automotive rises on buyout of remaining BYD venture stake

By Reuters News01:22 (UTC), 26 October 2026 Updated

** Shares of Eagers Automotive APE.AX rise as much as 7.9% to A$20.05, their highest since September 16

** Stock logs its largest intraday pct gain since August 27

** Automotive retail company enters into a binding, unconditional agreement to acquire the remaining 20% ownership interest in the BYD Retail Joint Venture entity, EV Dealer Group Pty

** Adds, the deal comprises a combination of cash and APE ordinary shares

** Co expects the transaction to be 5.0% to 5.5% earnings accretive

** YTD, stock down 20.1%

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