Lithia Motors Speeds Into The UK: The $350M Deal That's Poised To Make Billions!
Portfolio Pulse from Shivani Kumaresan
Lithia Motors Inc (NYSE:LAD) plans to enter a strategic partnership with Pinewood Technologies and acquire the UK motor and fleet management divisions of Pendragon plc for approximately $350 million. The deal is expected to generate over $4.5 billion in annual revenues and expand Lithia's presence in the UK market. Lithia will also take a 16.7% ownership in the remaining Pinewood business. The acquisition of Pendragon Vehicle Management (PVM) is expected to add a profitable fleet management services business to Lithia. Post-completion, Lithia would have estimated annualized revenues of over $38 billion.
September 18, 2023 | 10:04 am
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Lithia Motors is set to acquire Pendragon's UK divisions and enter a partnership with Pinewood Technologies. This is expected to significantly boost its annual revenues and expand its presence in the UK market.
The acquisition and partnership deal is a significant move for Lithia Motors, as it not only expands its presence in the UK market but also adds a profitable fleet management services business to its portfolio. This is expected to generate substantial revenues, which could positively impact its stock price.
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