Brief: LMP Announces A Acquisition Agreement For 85% Of Two Chrysler Jeep Dodge Ram Dealerships In New York

LMP Automotive Holdings

30/03/2021 13:11

March 30 (Reuters) - Lmp Automotive Holdings Inc  LMPX.O :
    * LMP ANNOUNCES A DEFINITIVE ACQUISITION AGREEMENT FOR 85%
OF TWO
CHRYSLER JEEP DODGE RAM DEALERSHIPS IN NEW YORK GENERATING
APPROXIMATELY $270 MILLION IN ANNUALIZED REVENUE
    * LMP AUTOMOTIVE HOLDINGS - DEAL TO BE FUNDED THROUGH LMP'S
BALANCE SHEET ALONG WITH 25% IN COMMON STOCK
    * LMP AUTOMOTIVE HOLDINGS - EXPECT THAT UPON CLOSING IT WILL
INCREASE COMPANY'S REVENUE BY APPROXIMATELY 51%
    * LMP AUTOMOTIVE - EXPECT UPON CLOSING IT WILL BE
IMMEDIATELY
ACCRETIVE TO PRE-TAX INCOME BY ABOUT $5.6 MILLION POST MINORITY
INTEREST ON ANNUALIZED BASIS

Source text for Eikon:  ID:nGNX7tS0f9 
Further company coverage:  LMPX.O 

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