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Inchape sells retail operations in St. Petersburg for about £70m
StockMarketWire.com
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Inchape said it had sold its Toyota and Audi retail operations in St. Petersburg for an enterprise value of £70 million as automotive company looked to streamline its retail operations in Russia.
The transaction is conditional upon final OEM partner and regulatory approvals, and is expected to complete in the second-quarter.
'The proceeds from the disposal will be deployed consistent with the group's strategy to grow the core distribution business,' the company said.
At 8:47am: (LON:INCH) Inchcape PLC share price was 0p at 617.5p
Story provided by StockMarketWire.com
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