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HR Owen to sell PAG businesses to Lookers

HR Owen wants to dispose of its Premier Automotive Group East Anglia business to Lookers Southern, a subsidiary of Lookers for an undisclosed price.

HR Owen has today sent a circular to its shareholders to alert them of an extraordinary general meeting, to be held on February 27, where they will be asked of their approval of the disposal.

Lookers already lost out on a major deal to buy rival dealer group Reg Vardy from Pendragon in January. Its 875p per share for the Reg Vardy was trumped by Pendragon with its 900p per share offer.

Ford's prestige Premier Automotive Group brands consist of Jaguar, Land Rover, Volvo and Aston Martin.

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