Auto Nation runs rule over Inchcape retail business – REPORT

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Auto Nation is said to be in the frame to buy the retail business side of Inchcape.

Sky News reported that AutoNation, was in the early stages of considering an offer for the UK and Polish dealerships.

Auto Nation has expressed an interest in expanding in the UK. It tabled an offer with Hedin last year for Pendragon, which was eventually sold to Lithia.

In January Inchcape confirmed that it had received a number of approaches from companies who want to buy the UK retail business.

Inchcape’s retail business is getting smaller and is now confined to dealerships in the UK and Poland.

In 2021 it disposed of its Toyota and Audi retail business in St Petersburg and a year later disposed of the remaining business in Russia because of the war in Ukraine.

In Belgium, the Group disposed of three retail sites, generating disposal proceeds of £1.9m and two sites in the UK, generating disposal proceeds of £10.1m.

The group also disposed of its retail business in Luxembourg in January 2021 for £4.5m.

In 2020 it disposed of 13 retail sites in the UK and two retail sites in Australia for £64m and retail businesses in China for a deferred £8m.

It also changed its classification

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