Auto Dealerships M&A » By The Online Investor Staff, updated Thu., Apr. 18, 7:36 AM
Recent mergers and acquisitions in the Auto Dealerships M&A category.
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Slide #20. Penske Automotive Group, Inc — Western Star Trucks Australia
Acquirer:
Penske Automotive Group, Inc (NYSE:PAG)
Acquiree:
Western Star Trucks Australia
Details:
Penske Automotive Group, Inc. (NYSE:PAG), an international automotive retailer, today announced that it has signed an agreement to acquire a distributor of commercial vehicles, related spare parts and aftermarket support across Australia and New Zealand and portions of Southeast Asia from Transpacific Industries Group Limited. The business to be acquired, Western Star Trucks Australia, primarily distributes heavy and medium-duty trucks for Western Star, MAN and Dennis Eagle through a network of over 80 independent dealers while serving customers across a number of industries, including on-highway, logistics, construction, mining, manufacturing, agricultural and waste/refuse collection.
Penske Automotive Group is an international transportation services company and an automotive and commercial truck retailers. Co. operates dealerships principally in the U.S., the United Kingdom, Canada, Germany, Italy, and Japan. Co. has four reportable segments: Retail Automotive, consisting of its retail automotive dealership operations; Retail Commercial Truck, consisting of its retail commercial truck dealership operations in the U.S. and Canada; Other, consisting of its commercial vehicle and power systems distribution operations and other non-automotive consolidated operations; and Non-Automotive Investments, consisting of its equity method investments in non-automotive operations.
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Avg. Broker Rec.
 
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Hold (2.45 out of 4) 100th percentile
(ranked higher than approx. 100% of all stocks covered)
Analysts' Target Price: PAG Stock Forecast Based on Zacks ABR data; powered by Xignite |
