Constellation Automotive owner TDR Capital has extended its presence in the car retail sector with the purchase of a 3.1% share in Vertu Motors.
Cazoo plans to close sites and axe jobs in the UK as part of a ‘Revised 2023 plan’ following its 2022 exit from used car markets on the European mainland.
Lookers will grant its top leadership trio £1.5 million in share options for the car retail group’s 2023 performance if the car retail PLC meets a series of three-year performance targets.
US-based Lithia Motors is said to have been identified as the “large international corporate” which launched a £460 million takeover bid of Pendragon.
Cinch, BCA and Webuyanycar owner Constellation Group has followed up its move to acquire Marshall Motor Holdings with the purchase of a 19.9% stake in Lookers.
Caffyns has revealed turnover up by 29.8% and a 62.3% rise in profit before tax in published results for the first half of its financial year.
Swedish motor retailer Anders Hedin has increased his stake in the UK's top 10 AM100 group Pendragon to just over 25% of voting rights.
Cambria Automobiles return into private ownership has been officially approved at the car retail group’s annual general meeting.
Cambria Automobiles’ £82.5 million takeover by the car retail group’s chief executive Mark Lavery has now exceeded the required 75% acceptance rate needed to succeed.
Lookers has requested that the listing of its ordinary shares be temporarily suspended, pending publication of its 2019 annual financial results.
Dealer groups that need to preserve cash during the coronavirus lockdown could support higher-paid staff with share options.
Livery Dole is set to be acquired in a management buy-out (MBO) that will formalise an employee share scheme at the Devon-based Mitsubishi Motor UK retailer.
Shares in Pendragon closed 1.3% up on Wednesday (January 23) after Swedish investment company Anders Hedin Invest bought a 9.24% share in the AM100’s former number one retail group.
French Finance Minister Bruno Le Maire has said that Nissan chairman Carlos Ghosn is “no longer capable of leading” fellow Alliance manufacturer Renault in light of his arrest amid allegations of financial misconduct.
Pendragon is set to review and restructure its franchised dealer operations after issuing a profit warning to the London Stock Exchange.
McLaren Technology Group and McLaren Automotive have merged to form the McLaren Group after former chairman Ron Dennis sold his share in the business for £275 million.
Pendragon chief executive Trevor Finn has been awarded a further 2.4 million shares in the business under the Company’s Long Term Incentive Plan.
Peter Johnson, non-executive chairman of Marshall Motor Holdings, has invested a further £37,500 in shares in the publicly listed dealer group.
