Group 1 Automotive Agrees To Acquire Inchcape U.K. Dealerships For $439M In Cash

-3.08%

Group 1 Automotive, Inc.

GPI

413.74

-3.08%

54 Dealership Locations in the United Kingdom

Group 1 Automotive, a Fortune 300 automotive retailer with 202 dealerships located in the U.S. and U.K., today announced it has entered into a definitive agreement to acquire the U.K. automotive retailing business and related owned real estate from a subsidiary of Inchcape plc for approximately $439 million (£346 million) in an all-cash transaction, inclusive of $279 million (£220 million) of appraised real estate value. In 2023, the Inchcape U.K. dealerships generated approximately $2.7 billion USD (£2.1 billion) in annual revenues. The transaction is subject to the receipt of approval from the Financial Conduct Authority and is expected to close in the third quarter of 2024.

More This page is machine-translated. Sahm tries to improve but does not guarantee the accuracy and reliability of the translation, and will not be liable for any loss or damage caused by any inaccuracy or omission of the translation. *Disclaimer: The above content only represents the author's personal position and opinion and does not represent any position of Sahm Capital Financial Company and Sahm cannot confirm the authenticity, accuracy, and originality of the above content. Investors should consider the risks of investment products in light of their circumstances before making any investment decisions. When necessary, please consult a professional investment advisor. Sahm does not provide any investment advice, nor does it make any commitments and guarantees.