Vroom to acquire auto lender United Auto Credit, shares up

Vroom

12/10/2021 13:33

** Online used-car seller's  VRM.O  shares up 2.1% at $21
premarket 
    ** VRM says it would buy automotive lender United Auto
Credit Corp for $300 mln in cash  urn:newsml:reuters.com:*:nL4N2R826H
    ** Acquisition will help VRM to offer consumers the
opportunity to transact on its platform
    ** Deal is expected to close by Q1 of 2022
    ** As of last close, stock down ~50% this year


    

 (Reporting by Tiyashi Datta in Bengaluru)
 ((tiyashi.datta@thomsonreuters.com))