Pendragon plans $500 mln property sale and leaseback

Newswire

LONDON, Nov 28 (Reuters) - Pendragon Plc , Britain's biggest car dealer, said on Tuesday it planned to sell and lease back its 81 properties to a joint venture to reduce existing debt levels. The proceeds from the sale to the venture owned by Pendragon and NWPIL, a subsidiary of Royal Bank of Scotland, were expected at 257.8 million pounds ($499.5 million), the company said in a statement. Each property will be leased back to the group on a 25-year lease for an aggregate initial annual ...

Premium Content (PAID Subscription Required)

"Pendragon plans $500 mln property sale and leaseback" is part of the paid WardsAuto Premium content. You must log in with Premium credentials in order to access this article. Premium paid subscribers also gain access to:

  All of WardsAuto's reliable, in-depth industry reporting and analysis
  Hundreds of downloadable data tables including:
  •   Global sales and production data by country
  •   U.S. model-line inventory data
  •   Engine and equipment installation rates
  •   WardsAuto's North America Plant by Platform forecast
  •   Product Cycle chart
  •   Interrelationships among major OEMs
  •   Medium- and heavy-duty truck volumes
   •  Historical data and much more!


For WardsAuto.com pricing and subscription information please contact
Amber McLincha by email: amclincha@wardsauto.com or phone: (248) 799-2622
 

Current subscribers, please login or CLICK for support information.

Sponsored Introduction Continue on to (or wait seconds) ×