Vertu Motors to buy Bristol Street for 40 mln stg

Newswire

LONDON, Feb 27 (Reuters) - Britain's Vertu Motors Plc said it had conditionally agreed to buy motor retailer Bristol Street Group for 40 million pounds ($78.5 million). Vertu, whose shares were suspended on Feb. 22 when it had said it was in takeover talks, said on Tuesday it would pay 31 million pounds in cash and 9 million in shares. Bristol Street has 35 new and used car dealerships in England, Vertu said in a statement, and made a profit of 5.1 million pounds last year. Vertu, ...

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