Imperial secures full ownership of UK-based car dealer Pentagon
Transport and logistics group Imperial has secured full ownership of UK-based car dealer Pentagon in a £28m deal. Imperial said on Tuesday that the transaction would expand its international retail footprint into the passenger and light commercial vehicle market in the UK. The deal will be effected via Motus, which houses Imperial’s vehicle interests. "This acquisition is consistent with Motus’s strategy to deploy capital and its vehicle retail expertise in pursuit of growth and returns beyond SA," said Motus CEO Osman Arbee. Pentagon operates 21 prime retail dealerships in the UK and generated a revenue of £495m in the year to December 2016. In mid-afternoon trade on the JSE, Imperial shares were slightly lower at R184.50, valuing the company at about R37bn.
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