PENDRAGON PLC

M&A Activity • Dec 24, 2019

National Storage Mechanism | Additional information

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PENDRAGON 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. 

Enquiries:

Headland                                                      Henry Wallers           Tel: 0203 805 4822

Headland                                                      Jack Gault                  Tel: 0203 805 4822