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US seller group Lithia has accomplished its buy of Pendragon, guardian firm of the Evans Halshaw and Stratstone manufacturers.
This caps a 12-month interval through which North American corporations have taken over a number of the UK’s greatest seller teams.
Its profitable bid of £397 million noticed off the problem of a joint bid from US rival Penske and Sweden’s Hedin Group.
Lithia already had a foothold within the UK, due to the completion of its takeover of Jardine Motors Group in March final yr with a profitable bid reportedly totalling £300m.
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