Lithia pendragon

Lithia pendragon have more newsletters. Further announcements will be made by the company on the progress of the transaction in due course.

Alliance News - Pendragon PLC on Thursday said that it had completed the sale of its dealership and leasing business to Lithia Motors Inc, marking the beginning of its transformation into Pinewood Technologies. Pendragon is a Nottingham, England-based automotive dealer. The sale involved an aggregate consideration of GBP million, alongside a subscription by Lithia for The new shares were admitted to the main market of the London Stock Exchange on Thursday morning. Pendragon said: "Today marks the beginning of the transformation of Pendragon into Pinewood Technologies, a pure-play software-as-a-service business, which operates the company's dealer management software business. The company said that the partnership will "accelerate Pinewood's entry into the highly attractive North American dealer management software market", and that this entry would be "underpinned" by the GBP30 million subscription. Pendragon said: "The board strongly believes that the growth prospects for the company will be enhanced materially as a result of becoming a standalone business, as well as through the strategic partnership with Lithia.

Lithia pendragon

Alliance News - Pendragon PLC on Thursday said the Financial Conduct Authority approved a change of control of the firm's finance and insurance services arm, a step on the way to the disposal of its wider UK motor business to Lithia Motors. Pendragon said the approval means the sale of its UK motor business to Lithia will be completed on January The board strongly believes that the growth prospects for the company will be enhanced materially as a result of becoming a standalone business, as well as through the strategic partnership with Lithia," Pendragon said. It intends to return In September, the Nottingham, England-based automotive dealer Pendragon received an unsolicited proposal from AutoNation to acquire the company for 32 pence per share in cash. As part of the deal, Lithia will rollout Pinewood in its existing 50 UK sites. As strategic pact between the duo will see Pinewood enter the North American market. MarketScreener is also available in this country: United States. Add to a list Add to a list. To use this feature you must be a member.

Privacy Notice. Get started. However, Lithia was not the only firm sizing up Pendragon.

US dealer group Lithia has completed its purchase of Pendragon, parent company of the Evans Halshaw and Stratstone brands. Haymarket Media Group, publishers of Autocar Business, takes your privacy seriously. Our Automotive B2B brands and partners would like to keep you updated by email, phone and SMS with information and opportunities relevant to your work. Click here if you do not wish to receive these messages. Not Registered for Autocar Business, Create an account.

Transaction Overview About the Transaction Lithia and Pendragon have signed agreements to enter a strategic partnership with Pinewood Technologies and for Lithia to acquire Pendragon's UK motor division and vehicle management division. We are excited about the great potential in Pinewood's offering and envision our strategic partnership to further expand this SaaS business globally. Additionally, the proposed acquisition presents a highly synergistic growth opportunity with our existing UK presence with Jardine Motors Group; provides a new adjacency with PVM; and expands our brand and geographic footprint while serving to further strengthen our existing OEM relationships. Bill Berman , Chief Executive of Pendragon PLC added: "Pendragon has built one of the UK's leading automotive retailing businesses, underpinned by a market leading dealer management system, the quality of our people, long-standing relationships with OEMs and excellent execution for customers. The Pendragon Board considers Lithia to be perfectly placed to build on this progress. The launch of Pinewood as a standalone company is a unique and exciting opportunity to create a best-in-class product for customers, which we can market globally and drive substantial value for our shareholders and in Lithia we have the perfect partner to help accelerate Pinewood's push into the hugely attractive North American DMS market. The acquisition is planned to be financed using existing on-balance sheet capacity. Convenient and hassle-free experiences are offered through our comprehensive network of physical locations, ecommerce platforms, captive finance solutions and other synergistic adjacencies. We deliver consistent, low-risk, and profitable growth in a massive and unconsolidated industry. Our highly diversified and competitively differentiated design provides us the flexibility and scale to pursue our vision to modernize personal transportation solutions wherever, whenever, and however consumers desire.

Lithia pendragon

US dealer group Lithia has completed its purchase of Pendragon, parent company of the Evans Halshaw and Stratstone brands. Haymarket Media Group, publishers of Autocar Business, takes your privacy seriously. Our Automotive B2B brands and partners would like to keep you updated by email, phone and SMS with information and opportunities relevant to your work.

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Add to a list. It intends to return Duration Auto. Analysts' Consensus. Pendragon says UK watchdog clears deal as Lithia pact looms. Pendragon says UK watchdog clears deal as Lithia pact looms December 28, at pm. Dragons Den. Shares in Pendragon were up 0. Autonation pulls Pendragon offer amid takeover race. Duration Auto. Oryx International Growth notes bids for its holdings. Invalid email Something went wrong, please try again later. Pendragon said: "Today marks the beginning of the transformation of Pendragon into Pinewood Technologies, a pure-play software-as-a-service business, which operates the company's dealer management software business. Black Communities.

LAD's UK operations will expand their digital capabilities by integrating the Pinewood technology platform across all locations and will co-develop automotive technology solutions to capitalise on the North American market opportunity through a joint venture. Pinewood's dealer management software remains listed on the London Stock Exchange under the name Pinewood Technologies plc and will become a pure-play software-as-a-service SaaS business.

Other stock markets. Oryx International Growth notes bids for its holdings. Insolvency and Administration Be More Geek closes three shops with job losses amid spiralling costs Be More Geek stores in Manchester, Washington and Middlesbrough have closed after the original firm was put into liquidation - but three shops have been saved. As strategic pact between the duo will see Pinewood enter the North American market. Stocks fall as Middle East tensions heat up. Sign up to our newsletter. Stocks mentioned in the article. US dealer group Lithia has completed its purchase of Pendragon, parent company of the Evans Halshaw and Stratstone brands. It intends to return Market Closed - London S.