Last checked at 6 Oct 2022 07:00
6 October 2022
INCHCAPE PLC
DERCO ACQUISITION UPDATE
On 28 July 2022 Inchcape (the "Group") announced the proposed acquisition of Derco (the "Transaction").
The Transaction is subject to merger control clearance in Chile and Peru and a merger control filing in Colombia. The merger control filing in Colombia has been submitted and accepted. Merger control documents have been submitted to the relevant regulatory bodies in Chile and Peru. We continue to expect those processes to be completed in line with the overall Transaction timetable as detailed at announcement.
The preparation of the Class 1 shareholder circular and notice of General Meeting documentation (the "Circular") is ongoing, with publication now expected in late November or early December.
The Group continues to expect completion of the Derco acquisition at the end of 2022 or in Q1 2023, subject to necessary shareholder approvals and merger control clearance.
The Group will provide a quarterly trading update on 27 October 2022.
About Inchcape
Inchcape is the leading independent multi-brand global automotive distributor, operating in over 40 markets and territories with a portfolio of the world's leading automotive brands. Inchcape has diversified multi-channel revenue streams including sale of new and used vehicles, parts, service, finance and insurance. The Company has been listed on the London Stock Exchange (INCH) since 1958, and is classified within the 'Business Support Services' sector. The Group is headquartered in London and employs around 14,500 people globally. www.inchcape.com.
Enquiries:
Inchcape plc - Investor Relations | |
Raghav Gupta-Chaudhary | +44 (0)7933 395 158 investors@Inchcape.com |
Brunswick Group - Media Enquiries | |
Susan Gilchrist, Kate Holgate | +44 20 7404 5659 inchcape@brunswickgroup.com |