1st Aug 2024 12:52
Inchcape PLC - London-based company provides distribution services to original equipment manufacturers in the automotive sector - Completes the disposal of its UK Retail operations to the UK arm of New York-listed automotive retailer Group 1 Automotive Inc. It says the sale will complete Inchcape's "transformation into a pure-play [automotive] distribution operator, with a diversified and scaled global business". Adds that "distribution is higher-margin, more capital‐light, higher return, more cash-generative, compared to retail-only businesses." Read More
