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GenusPlus Group Ltd (ASX:GNP)

ALERT: Price-sensitive ASX Announcement for GNP
Current share price for GNP : $9.070 -0.67 (-6.88%)+
Announcement
Release
18 May 2026 8:18AM
Price at Release
$9.740
Full Release
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Summary
GenusPlus Group Ltd has agreed to a transformational acquisition of MPC Kinetic for a total consideration of up to AUD 400 million. The acquisition involves an upfront payment of AUD 325 million, with additional deferred and earn-out cash considerations. MPC Kinetic is a leading provider of gas gathering and renewable energy construction services in Australia. This acquisition will diversify GenusPlus into the gas and water sectors, enhancing its infrastructure service offerings. The deal is strategically aligned with GenusPlus' growth strategy, expected to be highly earnings accretive, and will support GenusPlus in becoming a leader in critical infrastructure services across Australia. Completion of the transaction is anticipated for 1 July 2026, pending satisfaction of conditions including Genus equity raising and regulatory approvals.
Key Points
  • GenusPlus Group Ltd acquires MPC Kinetic for up to AUD 400 million.
  • Acquisition includes upfront, deferred, and earn-out cash considerations.
  • MPC Kinetic provides gas gathering and renewable energy construction services.
  • Diversifies GenusPlus into gas and water sectors, enhancing service offerings.
  • Expected completion by 1 July 2026, subject to regulatory approvals.
  • Supports GenusPlus' strategy to become a leader in infrastructure services.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.