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Sale of Hornburg Jaguar Land Rover, SMCA

31st Mar 2021 09:00

RNS Number : 0994U

Pendragon PLC

31 March 2021

Pendragon PLC

("Pendragon" or the "Company")

Completion of Sale of Hornburg Jaguar Land Rover, Santa Monica, California

Further to the announcement on 15 December 2020 concerning the disposal of the trade and assets of its Jaguar and Land Rover motor vehicle dealership located in Santa Monica, California, Pendragon is pleased to announce the completion of the sale (the "Transaction").

The Transaction duly completed on 29 March 2021 with the purchaser, Redwood Automotive LLC ("Redwood"), the operator of a privately owned dealership group, following fulfilment of all closing conditions and with total proceeds for the Company of £10.8m.

This disposal concludes the disposal of all US dealerships, for which aggregate proceeds of £106.0m have been received.

Enquiries:

Headland Henry Wallers Tel: 0203 805 4822

Headland Jack Gault Tel: 0203 805 4822

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