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Vertu Motors PLC Announces Disposal of Heavy Trucks Business

Monday, 13 May 2013 02:00am EDT 

Vertu Motors PLC announced that it has exchanged contracts for the sale of the trade and certain assets of its three heavy truck operations, which comprise the Iveco sales and aftersales outlets in Bristol, Swindon and Gloucester, to Aquila Truck Centres (Italia) Limited, a newly incorporated and wholly owned subsidiary of Aquila Group (UK) Limited ("Aquila"). Aquila is an established main dealer for MAN Truck and Bus, Caterpillar, Isuzu and Neoplan and an authorised repairer for Iveco. Completion of the sale is expected to take place on 31 May 2013. The Board of Vertu expects that this disposal will be earnings enhancing in the financial year ending 28 February 2014. 

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0.5 +0.84%
24 Dec 2014