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Slide #24. Group 1 Automotive, Inc. — UAB Motors
Group 1 Automotive, Inc. (NYSE:GPI)
Group 1 Automotive, Inc. (NYSE: GPI),an international, Fortune 500 automotive retailer, today announced that it has closed the previously announced acquisition of UAB Motors Participacoes S.A., one of Brazil's largest automotive retailers. The company acquired 100 percent of the outstanding shares and interest in 18 dealerships, for approximately $47.4 million cash, 1.45 million shares of Group 1 common stock and the assumption of approximately $62 million of net non-floorplan debt.
Group 1 Automotive is an operator in the automotive retail industry. Through its dealerships, Co. sells new and used cars and light trucks; arranges related vehicle financing; sells service and insurance contracts; provides automotive maintenance and repair services; and sells vehicle parts. Co. sells retail used vehicles directly to its customers at its dealerships or via its internet sites and wholesale used vehicles at third party auctions. Co. sells replacement parts and provides both warranty and non-warranty maintenance and repair services, as well as provides collision repair services at the collision centers that Co. operates. Co. also sell parts to wholesale customers.
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Strong Buy (3.67 out of 4)