Edition:
India

Inchcape Sells Inchcape Fleet Solutions To Toyota For 100 Mln Stg


Thursday, 10 Oct 2019 

Oct 10 (Reuters) - Inchcape PLC ::SALE OF UK INCHCAPE FLEET SOLUTIONS FOR £100M.SALE OF INCHCAPE FLEET SOLUTIONS TO TOYOTA, A MAJOR CUSTOMER OF BUSINESS.TRANSACTION CONSIDERATION IS PAYABLE IN CASH AT COMPLETION AND WILL GIVE RISE TO A GAIN ON DISPOSAL.TRANSACTION IS EXPECTED TO COMPLETE IN Q4 2019 AND AS SUCH IMPACT ON INCHCAPE'S 2019 TRADING PROFIT WILL BE MINIMAL.AGREED TO SELL ITS INCHCAPE FLEET SOLUTIONS BUSINESS TO TOYOTA FLEET MOBILITY GMBH FOR TOTAL CASH CONSIDERATION OF £100M.USE OF PROCEEDS WILL BE CONSISTENT WITH INCHCAPE'S EXISTING CAPITAL ALLOCATION POLICIES. 

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632.5
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21 Feb 2020