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AUTOCANADA ANNOUNCES AGREEMENTS TO DIVEST 13 U.S. DEALERSHIPS
AUTOCANADA ANNOUNCES AGREEMENTS TO DIVEST 13 U.S. DEALERSHIPS Canada NewsWire ...
About this update from Autocanada Inc.
[{"type":"text","content":"\n\n\n\n AUTOCANADA ANNOUNCES AGREEMENTS TO DIVEST 13 U.S. DEALERSHIPS\n \n\n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n\n\n\n\n\n\n\n\n\n EDMONTON, AB\n \n\n ,\n \n\n July 16, 2025\n \n\n /CNW/ - AutoCanada Inc. (\"AutoCanada\" or the \"Company\") (TSX: ACQ), a multi-location North American automobile dealership group, announced that it has entered into definitive agreements to sell 13 franchised dealerships in its U.S. Operations segment for expected aggregate proceeds of approximately\n \n $82.7 million\n \n which includes approximately\n \n $6.4 million\n \n for real estate.\n \n\n The dealerships being sold across multiple purchasers include:\n \n\n\n Autohaus of\n \n Peoria\n \n (consisting of Audi, Mercedes-Benz, Porsche, and Volkswagen dealerships)\n \n\n Bloomington Automall (consisting of Audi,\n \n Lincoln\n \n , Mercedes-Benz, Subaru, and Volkswagen dealerships)\n \n\n Chevrolet of Palatine\n \n\n Crystal Lake Chrysler Dodge Jeep Ram\n \n\n Hyundai of Palatine\n \n\n North City Honda\n \n\n\n The transactions are subject to customary closing conditions, including OEM approvals, and are anticipated to close in the second half of 2025.\n \n\n As previously disclosed, the Company classified its U.S. Operations segment as a discontinued operation in its financial statements for the year ended\n \n December 31, 2024\n \n . AutoCanada remains actively engaged in the divestiture of its remaining four U.S. dealerships, consisting of Hyundai of\n \n Lincolnwood\n \n , Kia of\n \n Lincolnwood\n \n , Toyota of Lincoln Park, and Toyota of\n \n Lincolnwood\n \n .\n \n\n All dollar amounts in this press release are in Canadian dollars.\n \n\n\n Forward Looking Statements\n \n\n\n Certain statements contained in this press release are forward-looking statements and information (collectively, \"forward-looking statements\") within the meaning of the applicable Canadian securities legislation. We hereby provide cautionary statements identifying important factors that could cause our actual results to differ materially from those identified in th...