15th Apr 2008 07:01
Lookers PLC15 April 2008 15 April 2008 Lookers plc Proposed Acquisition of Bramall and Jones VW Limited Lookers plc ("Lookers"), one of the UK's leading motor retail groups, is pleasedto announce the proposed acquisition of the entire share capital of Bramall andJones VW Limited ("the Company") for a total cash consideration of approximately£2 million. The Company comprises two Volkswagen businesses and a contract hire and leasingbusiness. This will increase our representation of Volkswagen from 9 to 11outlets. In addition, it gives us an entry into the contract hire market with anexperienced management team and a fleet of approximately 1,500 vehicles. In view of the fact that 51% of the Company is owned by DCA Bramall, who is alsoa Director of Lookers, shareholder approval is being sought for thistransaction. A Circular will therefore be posted to shareholders later today. Completion is anticipated to take place on 1 May 2008. Enquiries: Lookers plc Telephone: 0161 291 0043Ken Surgenor, Chief ExecutiveDavid Dyson, Finance Director Hudson Sandler Telephone: 020 7796 4133Andrew HayesNick Lyon This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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