HSF Advises Inchcape On Buying Auto Distributor For £1.3B

By Dawood Fakhir (July 28, 2022, 5:58 PM BST) -- British-owned multinational car dealership company Inchcape PLC said on Thursday that it has inked a deal to acquire major Latin American automotive distributor Derco Holdings for £1.3 billion ($1.6 billion).

The acquisition will be done on a debt-free and cash-free basis, meaning that Derco will pay off all debt and extract all excess cash before the transaction is completed.

The cash-and-share acquisition will be sealed by the end of this year, or by the start of 2023, as it awaits merger control approvals in Chile and Peru and a merger control filing in Colombia, Inchcape said. It must also be given...

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