News: Deals: Reports

Goldcross Cycles Pty Ltd & Super Cheap Auto Group Ltd	Update Date: 06/27/08
Date Announced: 05/13/08
Value (million $USD): 13.2 million U.S. Dollar 14.0 million Australian Dollar

Status: Pending

TRANSACTION DETAILS
Date Announced	05/13/08
Date Originally Announced	05/13/08
Format	Merger	Acquisition techniques	Not Applicable
Attitude	Friendly	Agency	n/a
Value	13.2 million U.S. Dollar 14.0 million Australian Dollar	Advisor Fees	n/a

SYNOPSIS

AUSTRALIA - Super Cheap Auto Group Ltd (SC) agreed to acquire the entire share capital of Goldcross Cycles Pty Ltd, a bicycles retailer, for 14 mil Australian dollars ($13.153 mil US). The consideration was to consist of A$6 mil ($5.637 mil), the assumption of A$5 mil ($4.698 mil) in liabilities, and up to A$3 mil ($2.819 mil) in profit-related payments. Concurrently, SC planned to acquire a 50% interest, and was granted an option to acquire the remaining 50% interest, which it did not already own, in Australian Bicycles Pty Ltd.

TARGET
Name	Goldcross Cycles Pty Ltd
Industries	n/a
City	Narre Warren, Victoria
State	n/a
Nation	Australia
Incorporated in	n/a
Public Status	Private
Business Description	Goldcross Cycles Pty Ltd, based in Victoria, retails bicycles across Melbourne. The company, founded in 1978, has stores in Camberwell, Chadstone, Chirnside Park, Epping, Fountain Gate, Hoppers Crossing, Knox, Moonee Ponds, Richmond, and Cranbourne.
Advisors	NULL
Target Sales	n/a

ACQUIROR
Name	Super Cheap Auto Group Ltd (Australia : SUL)
Industries	Gasoline service stations; Hardware stores
City	Lawnton, Queensland
State	n/a
Nation	Australia
Incorporated in	n/a
Public Status	Public
Business Description	Super Cheap Auto Group Ltd, based in Queensland, retails auto parts, accessories, handyman items, tools and equipments, such as batteries, car care products, oil and additives, paint and panel, and seat covers.
Advisors	NULL
Acquiror Sales	530.6 million U.S. Dollar 624.8 million Australian Dollar

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