Retailer Myer inks $569 mln takeover of Premier's apparel business

Reuters

2024/10/29

Oct 29 (Reuters) - Australian retailer Myer will takeover local fashion chain owner Premier Investments'

portfolio of brands under the Just Group business in Australia and New Zealand, in a deal valued at A$863.8 million ($568.64 million), the companies said on Tuesday.

Under the deal, Myer will issue Premier 890.5 million new shares in the retailer.

($1 = 1.5191 Australian dollars)

(Reporting by Rishav Chatterjee in Bengaluru; Editing by Alan Barona)

((Rishav.Chatterjee@thomsonreuters.com))

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