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BRIEF-Skydive Beach updates on acquisition of Skydive Queenstown

Published 12/10/2015, 11:17 am
Updated 12/10/2015, 11:19 am
© Reuters.  BRIEF-Skydive Beach updates on acquisition of Skydive Queenstown
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Oct 12 (Reuters) - Skydive Beach Group Ltd SKB.AX :

* Acquisition of Skydive queenstown SKB.AX

* Says skb will acquire 100% of the shares in sq group entities for a consideration of NZ$17M

* Says acquisition of New Zealand's leading tandem skydiving group announces A$19.6M equity raising

* The sq transaction is expected to be materially earnings accretive from completion under the agreement

* Acqusition will improving skb's guidance for FY 2016 to 130,381 tandems, A$54.9M revenue and A$13.5M EBITDA

* Says transaction is expected to complete by 30 October 2015

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