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EMH gets FSA approval for acquisition

European Motor Holdings has received FSA approval for its acquisition of Smith Knight Fay (Holdings).

EMH announced on June 14 that it had entered a conditional agreement for the buy-out.

EMH shareholders will be asked for their approval at an extraordinary general meeting on Friday. The purchase price is approximately £29.8m. Smith Knight Fay is a privately owned motor retail business operating 18 motor retail franchises in the north west.

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