4th Nov 2016 16:41
4 November 2016
Lookers plc
("Lookers", or "Company")
Sale of the Parts Division and acquisition of Warwick Holdings Limited
As previously announced on 9 August 2016, Lookers entered into a conditional agreement to sell its parts business to Alliance Automotive UK Ltd on a debt free and cash free basis, for a consideration of £120 million payable in cash on completion (the "Transaction").
The Company is pleased to announce that the Transaction completed on 4 November 2016.
As previously announced on 15 August 2016, Lookers entered into a conditional agreement to acquire Warwick Holdings Ltd, trading as Drayton Motor Group, for £55.4m in cash (the "Acquisition").
The Company is pleased to announce that the Acquisition completed on 4 November 2016.
Enquiries:
Lookers | Tel: 0161 291 0043 |
Andy Bruce, Chief Executive | |
Robin Gregson, Finance Director | |
Bell Pottinger | Tel: 020 3772 2500 |
Nick Lambert | |
Victoria Geoghegan Lucy Stewart | |
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