StockMarketWire.com - Pendragon said it had agreed to sell its Chevrolet motor vehicle dealership in Puente Hills, California to businessman Scott Biehl for around £17.2m.

Biehl was the operator of a privately-owned dealership group.

The precise sale amount would be determined following the preparation of completion accounts for the deal.

As at 31 December 2018, the gross assets that were the subject of the transaction amounted to £42.0m and the loss prior to central costs was £0.6m.

Sale proceeds would initially be used to cut debt.



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