Inchcape PLC - London-based auto distribution, retail and services company - Has submitted necessary merger control filings in Colombia, Chile and Peru for its Derco acquisition. Derco is largest multi-brand automotive distributor by volume in Latin America. Merger filing in Colombia has been accepted, waiting for Chile and Peru. Inchcape expects those processes to be completed in line with the overall timetable. Expects completion of acquisition at the end of 2022 or in the first quarter of 2023 subject to shareholder approvals and regulatory clearance.
Current stock price: 720.50 pence, up 1.0% on Thursday
12-month change: down 8.9%
By Chris Dorrell; chrisdorrell@alliancenews.com
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Inchcape (INCH)