Australia's ARB Corp gains as its associate acquires US business from Hoonigan
Adds analyst comments
** Shares of ARBCorporation ARB.AX rise 5.6% to A$42.075, set for best day since Aug. 20
** Motor vehicle parts maker's U.S.-based associate ORW USA enters into an agreement to acquire 4 Wheel Parts from vehicle enhancements provider Hoonigan for $30 mln
** Acquisition will increase ARB's holdingin ORW to 50% from 30%
** Agreement will give ARB greater control of its U.S.-based distribution, its key growth market - Citi
** Jefferies says ARB's recent strategic moves in the U.S. are encouraging
** Anticipates more to come in the build-out of this acquired retail network
** ARB up 10.8% YTD, as of last close
Reporting by Ayushman Ojha in Bengaluru
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