After AP Eagers acquired Automotive Holdings Group in a deal valued at more than $2 billion last September it only took it 60 days to tell the market the performance of its new acquisition had been disappointing so far.
Not a good start, but part of the plan to get some value out of the AHG acquisition was to sell off its perennially underperforming refrigerated logistics business to a trade buyer.
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Tom Richardson writes and comments on markets including equities, debt, crypto, software, banking, payments, and regulation. He worked in asset management at Bank of New York Mellon and is a member of the CFA Society of the UK as a holder of the Investment Management Certificate. Connect with Tom on Twitter. Email Tom at tom.richardson@afr.com
