Eagers Automotive said on Monday that it has entered a binding, unconditional agreement to acquire the remaining 20 percent ownership interest in EV Dealer Group Pty Ltd, the entity that operates its BYD retail joint venture in Australia, for a combination of cash and Eagers ordinary shares. On completion, expected by October 31, 2026, EV Dealer Group becomes a wholly owned subsidiary and the venture’s third party non-controlling interest disappears.
Eagers did not disclose the value of the stake, the cash and share split, or the implied valuation. What it disclosed is the expected effect: the transaction is forecast to be 5.0 to 5.5 percent earnings accretive for shareholders, measured on pro forma underlying operating profit before tax for the twelve months ended June 30, 2026. The shares rose about 7 to 8 percent in Monday trading.
The buyout completes a staged consolidation. Eagers launched the venture with BYD in 2022 as the brand’s national retail partner, raised its stake from 49 percent to 80 percent in 2023, and signed a new long term agreement with BYD in 2025. The purchase covers ownership of the retail entity only; BYD’s Australian distribution rights sit with EVDirect and are not part of this transaction. It also follows Eagers’ entry into Canada earlier this year through a 65 percent stake in CanadaOne Auto Group, and a non-binding agreement to sell its franchised New Zealand business while keeping the easyauto123 operations.