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Vertu Motors buys dealerships from Lookers

By BFN News | 03:24 PM | Tuesday 28 September, 2010

Vertu Motors has exchanged contracts to acquire two dealerships from Lookers. These Cheshire dealerships are both dual franchised, located in Altrincham (Renault and Nissan) and Macclesfield (Renault and Ford) occupying leasehold properties. The maximum consideration payable is £3.9m to be settled in cash from existing resources. No goodwill is payable on this acquisition and completion is expected to take place on 4 October. Story provided by