Marshall Motor Holdings has confirmed its largest shareholder, Marshall of Cambridge, is considering the sale of its 64.4% stake in the AM100 motor retailer.
And it has received a request from Constellation Automotive Group, which already owns BCA, cinch and WeBuyAnyCar, that it be given the opportunity to participate if Marshall of Cambridge goes ahead with its disposal.
"There can be no certainty that any formal offer for MMH will be forthcoming, nor as to the terms of any such formal offer," Marshall stated in a statement to the London Stock Exchange today after it was notified of speculation by The Takeover Panel.
Constellation now has 28 days, until December 24, to either announce a firm intention to make an offer for the car dealer group or to announce that it does not intend to make an offer.
"A further announcement will be made as and when appropriate," added Marshall's statement.
Family-owned Marshall of Cambridge has a long history in the aviation and motor retail industries, but remained a regional dealer group until chief executive Daksh Gupta (pictured) joined and began building its presence across England, and floating the motor retailer on the stock market in 2015 - although the Marshall family retained almost two thirds of its shares.
Spotlight on the customer
In this issue:
What consumers really want - trends and habits dealers must understand to provide the right buying experience
Barriers to EV purchase - many private motorists need extra help before they take the plunge
Delighting used car buyers - it's essential for retailers to offer tailored experiences and great value
Aftersales customer care - valuable interactions are vital as dealerships face fishing in a diminishing pool
A customer-first future - Steve Young, ICDP MD, gives AM an exclusive insight.
Read now
An award-winning journalist and editor, with two decades of experience covering the motor retail industry, and accredited by the Institute of Leadership and Management (ILM) plus the National Council for the Training of Journalist (NCTJ)
As editor of AM since 2016, Tim is responsible for its media content, planning and production across AM's multiple channels, including the website, digital reports, webinars, social media and the editorial content of AM's events, Automotive Management Live and the AM Awards. His focus is on interviewing senior leaders of franchised dealer groups and motor manufacturer national sales companies to examine latest developments in UK motor retail.
Login to comment
Comments
No comments have been made yet.