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Autosports Group Ltd ( (AU:ASG) ) has shared an update.
Autosports Group Limited has completed the acquisition of Mercedes-Benz Canberra through its subsidiary, Autosports Leichhardt Pty Ltd, for approximately $3.6 million. This strategic acquisition, funded by cash reserves and existing debt facilities, enhances Autosports Group’s luxury brand portfolio in the Australian Capital Territory and aligns with its strategy to deepen collaboration with Mercedes-Benz, as highlighted in their FY25 results.
The most recent analyst rating on (AU:ASG) stock is a Buy with a A$3.63 price target. To see the full list of analyst forecasts on Autosports Group Ltd stock, see the AU:ASG Stock Forecast page.
More about Autosports Group Ltd
Autosports Group Limited (ASX: ASG) is Australia’s only ASX-listed specialist prestige and luxury automotive retailer. The company operates over 75 businesses across major metropolitan markets in Sydney, Melbourne, Brisbane, Gold Coast, and Auckland, New Zealand. Since its inception in 2006 as a single luxury dealership, Autosports Group has expanded into a diversified automotive group representing premier luxury and prestige brands, offering services including vehicle sales, finance, insurance, aftermarket products, spare parts, servicing, and collision repair.
Average Trading Volume: 375,625
Technical Sentiment Signal: Buy
Current Market Cap: A$660.7M
Learn more about ASG stock on TipRanks’ Stock Analysis page.