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AutoCanada Reaches Agreements with GM Canada and Priestner
AutoCanada Reaches Agreements with GM Canada and Priestner Canada NewsWire EDMON...
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[{"type":"text","content":"\n\n\n\nAutoCanada Reaches Agreements with GM Canada and Priestner\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.prngen3{\nBORDER-BOTTOM:black 1pt solid; TEXT-ALIGN: LEFT; BORDER-LEFT:black 1pt solid; PADDING-LEFT:0.50em; PADDING-RIGHT:0.50em; VERTICAL-ALIGN: BOTTOM; BORDER-TOP:black 1pt solid; BORDER-RIGHT:black 1pt solid\n}\n.prngen2{\nBORDER-BOTTOM:black 1pt solid; TEXT-ALIGN: CENTER; BORDER-LEFT:black 1pt solid; PADDING-LEFT:0.50em; PADDING-RIGHT:0.50em; VERTICAL-ALIGN: BOTTOM; BORDER-TOP:black 1pt solid; BORDER-RIGHT:black 1pt solid\n}\n.prnsbls{\nBORDER-LEFT:black 1pt solid\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n.prnsbbs{\nBORDER-BOTTOM:black 1pt solid\n}\n.prnvab{\nVERTICAL-ALIGN: BOTTOM\n}\n.prnrbrs{\nBORDER-RIGHT:black 1pt solid\n}\n.prnpl6{\nPADDING-LEFT:0.50em\n}\n.prnsbts{\nBORDER-TOP:black 1pt solid\n}\n.prnpr6{\nPADDING-RIGHT:0.50em\n}\n.prntbls{\nBORDER-BOTTOM: black 1px solid; BORDER-LEFT: black 1px solid; BORDER-COLLAPSE: collapse; BORDER-TOP: black 1px solid; BORDER-RIGHT: black 1px solid\n}\n\n\n\n\n\n\n\nCanada NewsWire\nEDMONTON, Dec. 7, 2017\n\n\n\nCompany Allowed Direct Ownership and Control of GM Canada Dealerships, Assumes Control of Five Stores\n\n\n\nEDMONTON, Dec. 7, 2017 /CNW/ - AutoCanada Inc. (TSX: ACQ) (or the \"Company\") today announced two new agreements that will strengthen its relationship with GM Canada. The Company has executed a Public Company Master Agreement (PCMA) with GM Canada that permits AutoCanada's direct ownership and control of GM Canada dealerships. It has also reached an agreement with CanadaOne Auto Group, a company controlled by the Company's former CEO and founder, Mr. Patrick Priestner, that will see AutoCanada assume control of five of the nine GM Canada dealerships where it held a majority equity stake with no voting rights, and CanadaOne Auto Group buying AutoCanada's interest in four dealerships.\n\n\n \n \n\n \nUnder the newly negotiated agreements, five dealerships will become majority owned and controlled by AutoCanada and the remaining four by CanadaOne Auto Group (ownership by entity post-closing is presented below)....