Brief: Lmp Announces A Definitive Acquisition Agreement For A Kia Dealership In Connecticut, Including The Associated Real Estate, Generating Approximately $40 Million In Annualized Revenue And $1.9 Million In Adjusted EBITDA
22/07/2021 13:57
July 22 (Reuters) - Lmp Automotive Holdings Inc LMPX.O :
* LMP ANNOUNCES A DEFINITIVE ACQUISITION AGREEMENT FOR A KIA
DEALERSHIP IN CONNECTICUT, INCLUDING THE ASSOCIATED REAL ESTATE,
GENERATING APPROXIMATELY $40 MILLION IN ANNUALIZED REVENUE AND
$1.9 MILLION IN ADJUSTED EBITDA
* LMP AUTOMOTIVE HOLDINGS INC - PURCHASE PRICE OF ABOUT $2.8
MILLION FOR GOODWILL AND $6.45 MILLION FOR ASSOCIATED REAL
ESTATE
* LMP AUTOMOTIVE HOLDINGS INC - TRANSACTION EXPECTED TO BE
FUNDED
THROUGH A COMBINATION OF CASH ON LMP'S BALANCE SHEET AND DEBT
FINANCING
Source text for Eikon: ID:nGNX1sZ2tc
Further company coverage: LMPX.O
((Reuters.Briefs@thomsonreuters.com;))
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