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Slideshow Mergers & Acquisitions

By The Online Investor Staff, updated Fri., Apr. 19, 9:37 AM

Slide #31. Group 1 Automotive, Inc. Inchcape U.K. Dealerships

Acquirer: Group 1 Automotive, Inc. (NYSE:GPI)
Acquiree: Inchcape U.K. Dealerships
Details: Group 1 Automotive, Inc. (NYSE: GPI) ("Group 1" or the "Company"), a Fortune 300 automotive retailer with 202 dealerships located in the U.S. and U.K., today announced it has entered into a definitive agreement to acquire the U.K. automotive retailing business and related owned real estate from a subsidiary of Inchcape plc for approximately $439 million (346 million) in an all-cash transaction, inclusive of $279 million (220 million) of appraised real estate value. In 2023, the Inchcape U.K. dealerships generated approximately $2.7 billion USD (2.1 billion) in annual revenues. The transaction is subject to the receipt of approval from the Financial Conduct Authority and is expected to close in the third quarter of 2024.

Group 1 Automotive is an operator in the automotive retail industry. Through its omni-channel platform, Co. sells new and used cars and light trucks; arranges related vehicle financing; sells service and insurance contracts; provides automotive maintenance and repair services; and sells vehicle parts. Co. sells retail used vehicles directly to its customers at its dealerships or via AcceleRide® and wholesale used vehicles at third party auctions. Co. sells replacement parts and provides both warranty and non-warranty maintenance and repair services at each of its franchised dealerships, as well as provides collision repair services at its collision centers that it operates.

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Company Name:  Group 1 Automotive, Inc.
Stock buyback:  GPI buyback
Website:  www.group1auto.com
Sector:  Auto Dealerships
Number of ETFs Holding GPI:  56
Total Market Value Held by ETFs:  $865.63M
Total Market Capitalization:  $3.79B
% of Market Cap. Held by ETFs:  22.85%
 

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April 19, 2024    9:37 AM Eastern
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Strong Buy (3.60 out of 4)
100th percentile
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