AM Online

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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