WOW will take a huge hit on this sale but they wanted to...

WOW will take a huge hit on this sale but they wanted to offload. Meanwhile hare's a summary:

Aug 23 (Reuters) - Metcash Ltd (MTS) :

• Acquisition of Home Timber & Hardware Group
• Metcash has entered into a binding agreement to acquire 100% of the Home Timber & Hardware Group (HTH) for cash consideration of $165M
• Deal funded through a combination of equity (about $80M) and debt (about $85M)
• Says acquisition is expected to be about 4% EPS accretive
• Says acquisition is unconditional and is expected to complete in early October
• Under the terms of the agreement Metcash will not acquire two loss-making stores or the Dandenong (Victoria) distribution centre
• Says enlarged network will create an opportunity for synergies which are expected to benefit both retailers and shareholders
• Metcash now intends to recommence dividends in FY 2018, rather than the FY 2017 final dividend
• Acquisition will be funded through combination of equity and debt comprising a placement of $80M and $85M in debt to be drawn from existing facilities
• Non-underwritten share purchase plan (SPP) capped at $20M will be undertaken with proceeds used to reduce debt
• Is undertaking a fully underwritten placement to eligible institutional investors, of 40 million new Metcash shares to partially fund the acquisition of HTH