15th Dec 2020 11:03
(Alliance News) - Pendragon PLC on Tuesday said it has agreed to sell the trade and assets of its Jaguar and Land Rover vehicle dealership in Santa Monica, California to Redwood Automotive LLC.
The motor retailer stated the GBP11.8 million consideration for the sale will be payable in cash upon completion of the purchase, with the amount to be used for general corporate purposes.
Pendragon noted that as at December 31, 2019, the gross assets subject of the transaction totalled GBP36.7 million and the profit prior to central costs was to GBP858,000.
Shares in Pendragon were trading 0.5% lower at 12.04 pence each on Tuesday morning on London.
By Ife Taiwo; [email protected]
Copyright 2020 Alliance News Limited. All Rights Reserved.
Related Shares:
PDG.L