Friday, September 19, 2008
Inchcape sells Volvo businesses
Inchcape plc has completed the sale of five of its six Volvo franchised retail businesses to Mill Garages North East Limited for £3 million cash.
Inchcape will still own the relevant properties which will be subject to a market rent.
André Lacroix, group chief executive of Inchcape, said: "This disposal is in line with the group's strategy of streamlining the UK business.
"We will re-allocate the proceeds into our fast growing emerging markets businesses."
DATED: 19.09.08
FEED: AM
Inchcape will still own the relevant properties which will be subject to a market rent.
André Lacroix, group chief executive of Inchcape, said: "This disposal is in line with the group's strategy of streamlining the UK business.
"We will re-allocate the proceeds into our fast growing emerging markets businesses."
DATED: 19.09.08
FEED: AM
