Lookers PLC
15 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 pleased
to announce the proposed acquisition of the entire share capital of Bramall and
Jones VW Limited ('the Company') for a total cash consideration of approximately
£2 million.
The Company comprises two Volkswagen businesses and a contract hire and leasing
business. This will increase our representation of Volkswagen from 9 to 11
outlets. In addition, it gives us an entry into the contract hire market with an
experienced 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 also
a Director of Lookers, shareholder approval is being sought for this
transaction. 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 0043
Ken Surgenor, Chief Executive
David Dyson, Finance Director
Hudson Sandler Telephone: 020 7796 4133
Andrew Hayes
Nick Lyon
This information is provided by RNS
The company news service from the London Stock Exchange
*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:
Obtains access to the information in a personal capacity;
Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
Please note, this site uses cookies. Some of the cookies are essential for parts of the site to operate and have already been set. You may delete and block all cookies from this site, but if you do, parts of the site may not work. To find out more about the cookies used on Investegate and how you can manage them, see our Privacy and Cookie Policy
To continue using Investegate, please confirm that you are a private investor as well as agreeing to our Privacy and Cookie Policy & Terms.