1st Feb 2007 07:00
Inchcape PLC01 February 2007 01 February 2007 DISPOSAL OF INCHROY JOINT VENTURE HOLDING TO WING HANG BANK LIMITED Further to the announcement on 22 December 2006, Inchcape plc, the leadinginternational automotive retailer, is pleased to confirm it has completed itsdisposal of Inchroy Credit Corporation Limited ("Inchroy"), the Company's jointventure finance company in Hong Kong, to Wing Hang Bank Limited for HKD1,400million (c.£92m). Inchroy was a 50/50 joint venture with BankAmericaInternational Financial Corporation and the net proceeds due to Inchcape are 50%of the total consideration. For further information, please contact: Group Communications, Inchcape plc+44 (0) 20 7546 0022 Investor Relations, Inchcape plc+44 (0) 20 7546 8432 Financial Dynamics (Jonathon Brill/Billy Clegg)+44 (0) 20 7831 3113 Notes to editors Inchcape plc Inchcape plc is a leading international automotive retailer, with scaleoperations in Australia, Belgium, Greece, Hong Kong, Singapore and the UK. TheGroup also has operations in a number of other markets, including Eastern Europe, the Baltics, Russia and South America. In addition to growing its corebusinesses, Inchcape is looking to develop scale operations in new and emergingregions. It represents leading automotive brands and operates either a retail,or a vertically integrated retail model (i.e. exclusive distribution andretail), depending on the market. Inchcape's current key manufacturer partnersare Toyota/Lexus, Subaru, BMW, Mazda, Mercedes-Benz, PAG, Volkswagen, Audi andHonda. For further information, visit us at www.inchcape.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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