LOOK Lookers Plc

TIDMLOOK

RNS Number : 4259O

Lookers PLC

04 November 2016

4 November 2016

Lookers plc

("Lookers", or "Company")

Sale of the Parts Division and acquisition of Warwick Holdings Limited

As previously announced on 9 August 2016, Lookers entered into a conditional agreement to sell its parts business to Alliance Automotive UK Ltd on a debt free and cash free basis, for a consideration of GBP120 million payable in cash on completion (the "Transaction").

The Company is pleased to announce that the Transaction completed on 4 November 2016.

As previously announced on 15 August 2016, Lookers entered into a conditional agreement to acquire Warwick Holdings Ltd, trading as Drayton Motor Group, for GBP55.4m in cash (the "Acquisition").

The Company is pleased to announce that the Acquisition completed on 4 November 2016.

<ends>

Enquiries:

 
 Lookers                           Tel: 0161 291 0043 
 Andy Bruce, Chief Executive 
 Robin Gregson, Finance Director 
 
 Bell Pottinger                    Tel: 020 3772 2500 
 Nick Lambert 
 Victoria Geoghegan 
  Lucy Stewart 
 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

MSCAKQDNABDDCDK

(END) Dow Jones Newswires

November 04, 2016 12:41 ET (16:41 GMT)

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