Pendragon Plc (PDGL)

 35.30p
   
  • Change Today:
      0.000p
  • 52 Week High: 36.35
  • 52 Week Low: 32.05
  • Currency: UK Pounds
  • Shares Issued: 1,460.32m
  • Volume: 0
  • Market Cap: £515.49m

Pendragon sells Los Angeles JLR dealership

By Sean Farrell

Date: Monday 07 Sep 2020

LONDON (ShareCast) - (Sharecast News) - Pendragon has agreed to sell its Jaguar Land Rover dealership in Los Angeles for £15.8m in cash as the car retailer disposes of its US operations.
The UK company has signed a deal to sell the business to Triunity Automotive, a privately owned car dealer. At the end of December the dealership's assets were valued at £27.4m and profit before central costs was £0.3m.

The deal is subject to approval by Jaguar Land Rover. JLR will have right of first refusal over the trade and assets and can nominate an alternative buyer who will be able to acquire the business on the same terms.

Pendragon said the money from the sale would be used for general corporate purposes. The company decided to sell its US dealerships in 2017 and has raised about £77m from the disposal of a Chevrolet showroom and two other JLR dealerships in California.

The company, which trades as Statstone and Evans Halshaw in the UK, was already under pressure from falling sales before the Covid-19 crisis hammered the car industry. It announced 1,800 job cuts in July as part of a review that started before the pandemic.

Pendragon shares rose 1.7% to 8.85p at 10:05 BST.

Email this article to a friend

or share it with one of these popular networks:


Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 5 minutes.

 

Pendragon Plc Market Data

Currency UK Pounds
Share Price 35.30p
Change Today 0.000p
% Change 0.00 %
52 Week High 36.35
52 Week Low 32.05
Volume 0
Shares Issued 1,460.32m
Market Cap £515.49m

Trades for --2024

Time Volume / Share Price
0 @ 0.000p

Pendragon Plc Key Personnel

CEO William Berman
CFO Oliver Mann

Top of Page