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Group 1 Automotive Inc Enters Agreement To Acquire UAB Motors Participacoes S.A.

Thursday, 24 Jan 2013 07:58pm EST 

Group 1 Automotive Inc announced that it has entered into a definitive agreement to purchase 100% of the outstanding shares of UAB Motors Participacoes S.A., one of Brazil's automotive retailers, for approximately $47.4 million cash, 1.45 million shares of Group 1 common stock and the assumption of approximately $62 million of net non-floorplan debt. Upon closing, Group 1 will assume ownership of 100% interest in 18 dealerships – two Toyota, four Nissan, two BMW, two BMW/MINI, three Renault, three Peugeot, one Land Rover and one Land Rover/Jaguar. The dealerships, that include 21 franchises representing eight brands in the Sao Paulo market and key metropolitan markets in the neighboring state of Parana. The acquisition is targeted to close on or about February 28, 2013. 

Company Quote

3.48 +4.14%
17 Dec 2014