StockMarketWire.com - Automotive distributor Inchcape said it agreed to sell its Inchcape Fleet Solutions business to Toyota for £100m.

The sale, which the company said was at a 'good' valuation, comes as the Inchcape seeks to streamline its UK Retail market activities and focus on its core distribution operations.

The Inchcape Fleet Solutions business leased fleet vehicles and provided fleet management services to B2B customers, but the scope of the business 'means there is limited synergy with Inchcape's UK retail dealership business,' the company said.






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