Lookers PLC Sale and Acquisition Completion (4259O)
November 04 2016 - 12:41PM
UK Regulatory
TIDMLOOK
RNS Number : 4259O
Lookers PLC
04 November 2016
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 GBP120 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 GBP55.4m in cash (the "Acquisition").
The Company is pleased to announce that the Acquisition
completed on 4 November 2016.
<ends>
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
This information is provided by RNS
The company news service from the London Stock Exchange
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