Sale and Acquisition Completion

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 £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.

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Enquiries:

Lookers	Tel: [phone]
Andy Bruce, Chief Executive
Robin Gregson, Finance Director
Bell Pottinger	Tel:  [phone]
Nick Lambert
Victoria Geoghegan Lucy Stewart

 

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