Last checked at 
(Sharecast News) - Auto distributor Inchcape said it was selling three retail sites in Australia to Sime Darby Motors for £63m.
The disposal followed the sale of three sites in May and July , with the deal expected to complete in the fourth quarter, Inchcape said on Wednesday, adding that it was reorganising its Australasian buisness around its distribution unit.
The three sites represent a mix of brands - VW, BMW, Mini and JLR - and have generated £79m of revenue year to date, the company added.
The six retail site sales in Australia will generate a cash inflow of £76m and are expected to give rise to a small gain on disposal. The reorganisation was expect to incur exceptional costs of around .£5m - £8m over the second half of 2019.
18 Jun 2021 14:16
REFILE-LIVE MARKETS-U.S. stock futures turn red after Bullard bomb
(Updates headline)* U.S. stock futures fall after Bullard comments* European shares fall* Crude slips; dollar, gold gain; U.S. 10-yr note yield 1.5%June 18 - Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. ...
Read more