Asbury automotive group announces acquisition of park place dealerships
Asbury automotive group announces acquisition of park place dealerships and provides update on recent performance.asbury automotive group - deal for $685 million of goodwill and approximately $50 million for parts, fixed assets, and leaseholds, excluding vehicle inventory.asbury automotive group inc - transaction is expected to increase co's geographic mix to 28% of revenue derived from texas market.asbury automotive group inc - acquisition includes revised transaction terms from previously-announced transaction on december 11, 2019.asbury automotive group inc - acquisition expected to be immediately accretive to cash flow and earnings.asbury automotive group inc - acquisition will add about $1.7 billion in expected annualized revenues.asbury automotive group inc - expects to achieve significant synergies over next 3-yrs through integrating park place with asbury.asbury automotive group inc - expects to incur pre-tax costs associated with transaction of about $0.20 per share in q3 2020.asbury automotive group inc - ended june with about $730 million of available liquidity.asbury automotive group inc - estimate june same store new unit growth down 16%, used unit growth up 1%.asbury automotive group inc - estimate june pre-tax income of $41 million, $21 million in may and $3 million in april.asbury automotive - park place deal expected to be funded through combination of existing credit facilities, seller financing, cash on hand.
ABG Ratings Summary
ABG Quant Ranking
You've reached your free article limit.
Want To Read More Articles?
See what it all means for your stocks with premium tools
Stockprices is a weekly video covering what moved markets
this week, featuring a panel of Stockprices editors. It is published by the
close of trading on Fridays. Hosted by Nathaniel E. Baker, contributing editor,
and featuring: Aaron Task, VP Contributor Content and co-host Stockprices's Alpha
Trader podcast; Brad Olesen, VP News; Steve Alpher, Managing Editor News, co-host
Alpha Trader.
Unsubscribe From All
You successfully activated
“Only Essentials”
Confirm Upgrade
Your subscription will be moved to the annual plan. Service will automatically renew unless cancelled. No Refunds. Click upgrade to confirm.
Stockprices uses Plaid to connect you account
Connect effortlessly
Plaid lets you securely connect your financial accounts in seconds
Your data belongs to you
Plaid doesn't sell personal info, and will only use it with your permission