Edition:
India

Autocanada Reaches Agreements With GM Canada And Priestner


Friday, 8 Dec 2017 

Dec 7 (Reuters) - Autocanada Inc ::AUTOCANADA REACHES AGREEMENTS WITH GM CANADA AND PRIESTNER.AUTOCANADA INC - AUTOCANADA WILL RECEIVE A ONE-TIME NET PAYMENT OF APPROXIMATELY $23 MILLION FROM CANADAONE AUTO GROUP AS PART OF TRANSACTION.AUTOCANADA INC - ANNOUNCED TWO NEW AGREEMENTS WITH GM CANADA.AUTOCANADA INC - EXECUTED PUBLIC COMPANY MASTER AGREEMENT WITH GM CANADA THAT PERMITS AUTOCANADA'S DIRECT OWNERSHIP & CONTROL OF GM CANADA DEALERSHIPS.AUTOCANADA - UNDER NEWLY NEGOTIATED DEALS, 5 DEALERSHIPS WILL BECOME MAJORITY OWNED & CONTROLLED BY AUTOCANADA & REMAINING 4 BY CANADAONE AUTO GROUP.AUTOCANADA - UNDER TERMS OF PCMA, EACH GENERAL MANAGER IN AUTOCANADA/GM CANADA DEALERSHIP TO BE REQUIRED TO OWN MINORITY EQUITY POSITION IN DEALERSHIP. 

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