Lithia pendragon

Lithia pendragon News - Pendragon PLC on Thursday said that it had completed the sale of its dealership and leasing business to Lithia Motors Inc, lithia pendragon, marking the beginning of its transformation into Pinewood Technologies. Pendragon is a Nottingham, England-based automotive dealer. The sale involved an aggregate consideration of GBP million, alongside a subscription by Lithia for

We have more newsletters. Further announcements will be made by the company on the progress of the transaction in due course. Pendragon has franchises and 12 used cars dealerships as well as its dealer management software arm, which would become its main business if it sold off its forecourts. By Tom Pegden Leicester Mercury business editor. Subscribe Please enter a valid email Something went wrong, please try again later. More Newsletters. This may include adverts from us and third parties based on our knowledge of you.

Lithia pendragon

Alliance News - Pendragon PLC on Thursday said the Financial Conduct Authority approved a change of control of the firm's finance and insurance services arm, a step on the way to the disposal of its wider UK motor business to Lithia Motors. Pendragon said the approval means the sale of its UK motor business to Lithia will be completed on January The board strongly believes that the growth prospects for the company will be enhanced materially as a result of becoming a standalone business, as well as through the strategic partnership with Lithia," Pendragon said. It intends to return In September, the Nottingham, England-based automotive dealer Pendragon received an unsolicited proposal from AutoNation to acquire the company for 32 pence per share in cash. As part of the deal, Lithia will rollout Pinewood in its existing 50 UK sites. As strategic pact between the duo will see Pinewood enter the North American market. MarketScreener is also available in this country: United States. Add to a list Add to a list. To use this feature you must be a member. Market Closed - London S.

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US dealer group Lithia has completed its purchase of Pendragon, parent company of the Evans Halshaw and Stratstone brands. Haymarket Media Group, publishers of Autocar Business, takes your privacy seriously. Our Automotive B2B brands and partners would like to keep you updated by email, phone and SMS with information and opportunities relevant to your work. Click here if you do not wish to receive these messages. Not Registered for Autocar Business, Create an account. Forgotten your password?

Alliance News - Pendragon PLC on Thursday said that it had completed the sale of its dealership and leasing business to Lithia Motors Inc, marking the beginning of its transformation into Pinewood Technologies. Pendragon is a Nottingham, England-based automotive dealer. The sale involved an aggregate consideration of GBP million, alongside a subscription by Lithia for The new shares were admitted to the main market of the London Stock Exchange on Thursday morning. Pendragon said: "Today marks the beginning of the transformation of Pendragon into Pinewood Technologies, a pure-play software-as-a-service business, which operates the company's dealer management software business. The company said that the partnership will "accelerate Pinewood's entry into the highly attractive North American dealer management software market", and that this entry would be "underpinned" by the GBP30 million subscription. Pendragon said: "The board strongly believes that the growth prospects for the company will be enhanced materially as a result of becoming a standalone business, as well as through the strategic partnership with Lithia.

Lithia pendragon

Transaction Overview About the Transaction Lithia and Pendragon have signed agreements to enter a strategic partnership with Pinewood Technologies and for Lithia to acquire Pendragon's UK motor division and vehicle management division. We are excited about the great potential in Pinewood's offering and envision our strategic partnership to further expand this SaaS business globally. Additionally, the proposed acquisition presents a highly synergistic growth opportunity with our existing UK presence with Jardine Motors Group; provides a new adjacency with PVM; and expands our brand and geographic footprint while serving to further strengthen our existing OEM relationships. Bill Berman , Chief Executive of Pendragon PLC added: "Pendragon has built one of the UK's leading automotive retailing businesses, underpinned by a market leading dealer management system, the quality of our people, long-standing relationships with OEMs and excellent execution for customers. The Pendragon Board considers Lithia to be perfectly placed to build on this progress. The launch of Pinewood as a standalone company is a unique and exciting opportunity to create a best-in-class product for customers, which we can market globally and drive substantial value for our shareholders and in Lithia we have the perfect partner to help accelerate Pinewood's push into the hugely attractive North American DMS market.

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Company Profile. Audi Q4 E-tron 8. Group Related articles. To use this feature you must be a member. Alliance News - Pendragon PLC on Thursday said the Financial Conduct Authority approved a change of control of the firm's finance and insurance services arm, a step on the way to the disposal of its wider UK motor business to Lithia Motors. Invalid email Something went wrong, please try again later. However, Lithia was not the only firm sizing up Pendragon. Federation of Small Businesses. FCA refocuses WealthTek investigation on suspected criminal offences. Sign up to our newsletter. Movie star cars: How much is product placement worth to makers? BIST Other stock markets. Subaru Crosstrek 7.

US dealer group Lithia has completed its purchase of Pendragon, parent company of the Evans Halshaw and Stratstone brands.

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