Lithia pendragon

We have more newsletters. Further announcements will be made by the company on the progress of the transaction in due course, lithia pendragon. Pendragon has franchises and 12 used cars dealerships as well as its dealer management software arm, which would become lithia pendragon main business if it sold off its forecourts. By Tom Pegden Leicester Mercury business editor.

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. Market Closed - London S.

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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.

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. LAD's acquisition of Pendragon Vehicle Management "PVM" adds a highly profitable fleet management services business, and the UK motors business expands the brand and geographic footprint rounding out the reach and density of the network in the UK market. These additions build on the final adjacencies contemplated in the company's strategic design outlined in and growth in the United Kingdom. Neil Williamson , Lithia UK Regional President, commented: "Our investment in Pendragon expands our footprint into Wales and Scotland , while serving to increase our brands, markets, and density in existing locations. This increased footprint, alongside the integration of Pendragon Vehicle Management and migration to a single technology platform with Pinewood, establishes Lithia as a diversified, innovative, and scaled UK presence with significant advantages to peers. We look forward to working with our new talented colleagues and OEM partners in the pursuit of providing transportation solutions wherever, whenever, and however customers desire. The transaction reflects Lithia's commitment to invest in the evolving UK automotive industry. Convenient and hassle-free experiences are offered through our comprehensive network of physical locations, ecommerce platforms, captive finance solutions and other synergistic adjacencies.

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. Click here if you do not wish to receive these messages. Not Registered for Autocar Business, Create an account. Forgotten your password? Reset Password. Login to Autocar Business.

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Add to a list Add to a list. Trading Rating. Follow BusinessLive. Retailer takes on new warehouse at Bournemouth Airport's business park. Welsh Government. Insolvency and Administration. People on the move: key North East appointments and promotions. 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. We have more newsletters. 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. Other stock markets. Market Closed - London S. Movie star cars: How much is product placement worth to makers? Black Communities. 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.

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.

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. Follow nickgibbs. In December, Pendragon said that it would be returning By Tom Pegden Leicester Mercury business editor. View all car reviews. Pendragon is a Nottingham, England-based automotive dealer. Most Read Most Recent Ad Feature Exports Resilient Welsh exporters thrive amid global economic challenges Vaughan Gething, Minister for the Economy, lauds the performance of Welsh exporters during the market turbulence of the last four years. Oryx International Growth notes bids for its holdings. Email us. Not Registered for Autocar Business, Create an account.