Australia’s Eagers Auto to buy remaining stake in BYD joint venture

Investing.com-- Australia's Eagers Automotive (ASX:APE) said on Monday it had entered a deal to buy the 20% remaining ownership stake in a joint venture with Chinese electric vehicle maker BYD. Still guessing which stocks will beat the market? Our AI portfolio updates monthly and is outperforming the S&P 500 by 118%. See this month's list » Shares of the auto retailer jumped 7% to A$20.05 after the deal. Eagers will pay a combination of cash and stock for the stake, and did not specify the value of the deal. Unsure what to buy ahead of earnings? Our AI's recent pre-earnings calls delivered gains of +77% to +118% after results dropped. See this month's earnings picks » The deal is expected to be completed by end-October, and will be 5.0% to 5.