Lithia pendragon

Alliance News - Lithia 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 lithia pendragon.

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.

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. No account? Sign up to Autocar Business. Currently reading: US dealer group Lithia completes Pendragon takeover.

International Women's Day: 'Companies need to dismantle barriers in the workplace'. Story Saved.

We have more newsletters. Further announcements will be made by the company on the progress of the transaction in due course. Pendragon has franchises and 12 used cars dealerships as well as its dealer management software arm, which would become its main business if it sold off its forecourts. By Tom Pegden Leicester Mercury business editor. Subscribe Please enter a valid email Something went wrong, please try again later. More Newsletters. This may include adverts from us and third parties based on our knowledge of you.

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.

Los friends mexican restaurant reviews

Economic Development. Welsh Government. Pendragon says UK watchdog clears deal as Lithia pact looms December 28, at pm. The Company is engaged in offering new and used vehicles as well as providing aftercare services. By Tom Pegden Leicester Mercury business editor. Pendragon officially changes name to Pinewood Technologies. Pendragon says UK watchdog clears deal as Lithia pact looms. Forgotten your password? Related articles. Both AutoNation and the Hedin-Penske tie-up pulled out of a possible deal, however. The Company is engaged in offering new and used vehicles as well as providing aftercare services.

City editor MarkKleinmanSky. Pendragon disclosed in a stock exchange announcement last week that "a large international corporate" had presented a board-approved, non-binding cash offer for it.

The Budget. Radical shake up of bus network in Wales takes step forward. Privacy Notice. Both AutoNation and the Hedin-Penske tie-up pulled out of a possible deal, however. Federation of Small Businesses. Welsh Government. The sale involved an aggregate consideration of GBP million, alongside a subscription by Lithia for Shares in Pendragon were up 0. Annual profits - Rate of surprise. Subscribe to Autocar magazine. Analysts' Consensus. Pendragon officially changes name to Pinewood Technologies.