SYDNEY, July 9 (Reuters) - Australian auto parts

retailer Bapcor rejected on Tuesday the A$1.83 billion

($1.23 billion) buyout offer from private equity firm Bain

Capital, saying it did not fully reflect the company's value.

The company's stock fell by as much as 4.3% in early trade

on Tuesday. The Australian benchmark S&P/ASX200 was up

0.65%.

Bain Capital had offered to buy Bapcor for A$5.4 per share

in cash, representing a 23.9% premium to the stock's June 7

close of A$4.36.

But, in a statement on Tuesday, Bapcor - which operates the

Midas and Autobarn stores across Australia - said the offer was

not in its investors' best interests.

Bain Capital declined to comment.

Bapcor had a market value of A$1.72 billion as of Monday's

close, according to LSEG data.

In a separate announcement, Bapcor named Angus McKay as its

executive chairman and chief executive officer.

The automotive retailer also said its statutory net profit

after tax for the second half of the year that ended on June 30

would be hit by impairment charges in the retail business.

It said the "quantum of these charges will be confirmed as

part of the year-end process".

Bapcor had forecast its proforma net profit for the year

that ended on June 30 would be between A$93 million and A$97

million compared to $A125.3 million in 2023. It will report its

full year results on Aug. 21.

($1 = 1.4846 Australian dollars)

(Reporting by Scott Murdoch in Sydney and Rajasik Mukherjee;

Editing by Mohammed Safi Shamsi, Subhranshu Sahu and Muralikumar

Anantharaman)