Brief: LMP To Acquire Chrysler Dodge Jeep Ram Dealership In New York

LMP Automotive Holdings

26/07/2021 13:54

July 26 (Reuters) - LMP Automotive Holdings Inc  LMPX.O :
    * LMP ANNOUNCES A DEFINITIVE ACQUISITION AGREEMENT FOR A
CHRYSLER
DODGE JEEP RAM DEALERSHIP IN NEW YORK, INCLUDING THE ASSOCIATED
REAL ESTATE, GENERATING APPROXIMATELY $80 MILLION IN ANNUALIZED
REVENUE AND $2.6 MILLION IN ADJUSTED EBITDA
    * LMP AUTOMOTIVE HOLDINGS INC - PURCHASE PRICE OF ABOUT $11
MILLION FOR GOODWILL AND $8.2 MILLION FOR ASSOCIATED REAL ESTATE
    * LMP AUTOMOTIVE HOLDINGS - DEAL EXPECTED TO BE FUNDED
THROUGH 
COMBINATION OF CASH ON CO'S BALANCE SHEET, $5.6 MILLION IN
COMMON STOCK AND DEBT FINANCING
    * LMP AUTOMOTIVE HOLDINGS INC - DEAL EXPECTED TO ADD ABOUT
$2.6
MILLION IN ADJUSTED EBITDA OR $0.26 PER SHARE IN 2022

Source text for Eikon:  ID:nGNE7Mjj5n 
Further company coverage:  LMPX.O 

 ((Reuters.Briefs@thomsonreuters.com;))