Premier Investments and Myer transaction details

Premier Investments (ASX:PMV) has announced a significant transaction involving Myer Holdings Limited. Myer will acquire Just Group Limited from Premier, including five apparel brands. The deal awaits shareholder approvals from both companies.

Transaction impact and future outlook

Premier Investments has entered into a binding agreement for Myer to acquire Just Group Limited, marking a strategic shift. Shareholders are set to vote on resolutions on January 23, 2025. Upon completion, Premier will distribute Myer shares to its shareholders, focusing on growth in Peter Alexander and Smiggle brands. This transaction aligns with Premier's strategy to create a leading retail platform in Australia and New Zealand, concentrating on high-growth opportunities. However, it is contingent upon various approvals and regulatory consents, with outlined tax and financial implications for shareholders.

Executive insights on strategic transaction

The Premier Board unanimously recommends voting in favor of the resolutions, supporting our strategic review to separate brands for distinct growth opportunities.