Pendragon Plc completes the sale of Newport Beach dealership

  • Dec 24, 2019 GMT
  • Team Kalkine
Pendragon Plc (LON: PDG) has announced the completion of the sale of Newport Beach, California.
  • The company has announced that the transaction the sale of its Jaguar Land Rover motor vehicle dealership in Newport Beach, California was completed on 23 December 2019.
  • The company had made the announcement on 02 May 2019 concerning the disposal of certain dealerships.
  • The transaction was done after the fulfilment of all closing conditions with the total proceeds for the company valued at £31.1million and is in line with its strategy of disposing of its US Motor Group.
  • On 24th December 2019, at the time of writing, GMT 08:09 AM, PDG shares were trading at GBX 12.66, unchanged against the previous day closing price.

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