24 Dec 2019 07:00
PENDRAGON PLC - Completion of Sale of Newport Beach, CaliforniaPENDRAGON PLC - Completion of Sale of Newport Beach, California
PR Newswire
London, December 24
Pendragon PLC
("Pendragon" or the "Company")
Completion of Sale of Newport Beach, California
Further to the announcement on 02 May 2019 concerning the disposal of certain dealerships from the US Motor Group, Pendragon is pleased to announce the sale of its Jaguar Land Rover motor vehicle dealership in Newport Beach, California. The transaction completed on 23 December 2019 following the fulfilment of all closing conditions with the total proceeds for the Company valued at £31.1m.
The transaction is in line with the Company’s stated strategy of disposing of its US Motor Group and work on the remaining disposals continues.
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