Cambria Automobiles chief executive Mark Lavery has agreed an improved management buy-out offer of £82.5 million with the AM100 PLC’s board or directors.
Major Pendragon shareholder Anders Hedin has once again questioned bonus payments to CEO Bill Berman in an open letter to the AM100 PLC’s other investors.
Cambria Automobiles could be trading as a private company by July 29 after a timeframe for the proposed management buy-out by chief executive Mark Lavery was decided this week.
Cambria Automobiles chief executive Mark Lavery, finance director James Mullins and managing director Tim Duckers are exploring the possibility of a management buy-out of the AM100 PLC.
Lookers has said that it expects to deliver a “small profit” and reduced debt in its 2020 annual financial results – defying analysts’ loss predictions.
A surge in Tesla share prices has propelled the electric vehicle (EV) brand to become the world’s most valuable car manufacturer.
Aston Martin’s decision to raise £120m in senior secured bonds in a move which will see it paying 12% interest has been described as an “all-or-nothing rescue attempt” by the Financial Times.
Pendragon could be poised to make 1,300 redendancies as part of a business restructure designed to stem its faltering financial performance.
Motorpoint’s share value slumped by over 15% after the car supermarket’s founder David Shelby sold 11 million shares “in connection with divorce proceedings”.
Lookers has said that it is “cooperating fully” with the Financial Conduct Authority (FCA) as the regulator announced that it was commencing an investigation into the car retail group’s sales process.
