Aurora Cannabis Acquires The Remaining ~90% Equity Interest In MedReleaf Australia At An Enterprise Value Of AUD$50M
Portfolio Pulse from Benzinga Newsdesk
Aurora Cannabis has acquired the remaining approximately 90% equity interest in MedReleaf Australia for an enterprise value of AUD$50M, making it the largest global medical cannabis company in legal markets. MedReleaf Australia is ranked second in the Australian medical cannabis market, valued at around AUD$400 million. The transaction is anticipated to positively impact Aurora's Adjusted EBITDA immediately and hasten its path to generating positive free cash flow in 2024.
February 08, 2024 | 11:55 am
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Aurora Cannabis's acquisition of MedReleaf Australia positions it as a leader in the global medical cannabis market and is expected to positively impact its financials.
The acquisition of MedReleaf Australia significantly enhances Aurora Cannabis's market position and is expected to have a positive impact on its Adjusted EBITDA and cash flow. Given the strategic nature of this acquisition in a growing market, it is likely to be viewed positively by investors, potentially leading to an uptick in ACB's stock price in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100