Brief: Vroom To Acquire United Auto Credit Corporation

Vroom

12/10/2021 11:00

Oct 12 (Reuters) - Vroom Inc  VRM.O : 
    * ONLINE AUTOMOTIVE RETAILER VROOM TO ACQUIRE UNITED AUTO
CREDIT
CORPORATION
    * VROOM -  JIM VAGIM, PRESIDENT AND CEO OF UACC, AND RAVI
GANDHI,
CFO OF UACC, WILL REMAIN IN THEIR POSITIONS FOLLOWING DEAL
    * VROOM - DEAL FOR $300 MILLION IN CASH, SUBJECT TO
ADJUSTMENT
BASED UPON UACC’S CLOSING BOOK VALUE
    * VROOM - UACC WILL BECOME AN INDIRECT WHOLLY-OWNED
SUBSIDIARY OF
VROOM AND WILL CONTINUE TO OPERATE UNDER UACC NAME
    * VROOM - WILL FINANCE THE PURCHASE PRICE THROUGH CASH ON
HAND
    * VROOM - DEAL IS EXPECTED TO IMMEDIATELY BE ACCRETIVE TO
VROOM’S
EARNINGS

Source text for Eikon:  Bw1wTyFZa 
Further company coverage:  VRM.O 

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