31st Mar 2021 10:57
(Alliance News) - Pendragon PLC on Wednesday said it has completed the sale of its Jaguar & Land Rover vehicle dealership in Santa Monica to Redwood Automotive LLC for GBP10.8 million.
The Nottingham-based car dealer said the proceeds from the trade and assets sale, which was announced in December, will be used for general corporate purposes. Its net proceeds are GBP1 million less than the price stated in December due to completion adjustments.
Pendragon said this sale concludes its disposal of all of its US dealerships, for which a total of GBP106.0 million has been received.
Shares in Pendragon were down 1.8% at 16.78 pence in London on Wednesday.
By Zoe Wickens; [email protected]
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