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.
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