Car retailer sells US dealership in £17m deal

Pendragon, the Nottingham-headquarted car dealership giant, has sold its Chevrolet motor vehicle dealership in Puente Hills, California, for £17.2m.

The deal is in line with the company’s previously announced strategy of disposing of its US Motor Group and follows the sale of two dealerships in California for around £60m, which was announced in May 2019.

A statement from Pendragon said: “The company will make a further announcement upon completion of the transaction or earlier in the event that the transaction will not proceed to completion. The vompany continues to progress the disposal of the remainder of its US Motor Group.”