Brief: LMP Announces Definitive Acquisition Agreement For General Motors And Nissan Dealerships In Texas

LMP Automotive Holdings

19/07/2021 13:03

July 19 (Reuters) - Lmp Automotive Holdings Inc  LMPX.O :
    * LMP ANNOUNCES A DEFINITIVE ACQUISITION AGREEMENT FOR
GENERAL
MOTORS AND NISSAN DEALERSHIPS IN TEXAS, INCLUDING THE ASSOCIATED
REAL ESTATE, GENERATING APPROXIMATELY $250 MILLION IN ANNUALIZED
REVENUE AND $27 MILLION IN ADJUSTED EBITDA
    * LMP AUTOMOTIVE HOLDINGS INC - DEAL FOR PURCHASE PRICE,
INCLUDING
REAL ESTATE, OF ABOUT $141 MILLION
    * LMP AUTOMOTIVE HOLDINGS INC - DEAL EXPECTED TO BE FUNDED
THROUGH
CASH ON LMP'S BALANCE SHEET, $42 MILLION IN COMMON STOCK AND
DEBT FINANCING

Source text for Eikon:  ID:nGNX58sGVX 
Further company coverage:  LMPX.O 

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