LONDON: Pinewood.AI, a leading cloud-based software provider for the automotive retail sector, has agreed to acquire Lithia UK Holdings Limited’s 51% stake in Pinewood North America LLC for $76.5 million, the company announced today. The deal, structured through the issuance of 14,560,691 new ordinary shares in Pinewood.AI at 386.5 pence per share, values the…
LONDON, UK: Pendragon Plc, a leading UK automotive retailer, has announced that it has agreed to sell its UK motor and leasing business to Lithia Motors, Inc., one of the largest automotive retailers in North America, for £250 million. The deal includes Pendragon’s brands Evans Halshaw, Stratstone and Car Store, as well as Pendragon…