GenusPlus Group (ASX:GNP) signed a deal to acquire Geography Tree Services for AU$7 million in cash, according to a Friday filing with the Australian bourse.
Geography Tree Services provides vegetation management services for a utility services provider, the filing said. The acquisition will expand GenusPlus' capability in powerlines and is expected to be immediately accretive to earnings.
The transaction is subject to customer consent and the provision of management accounts, the filing said. Completion is expected in January next year.
Price (AUD): $2.51, Change: $-0.010, Percent Change: -0.40%
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