£14.3m
Retailer Inchcape
plc has cut its ties to the General
Motors brand Vauxhall
with the sale of its five UK Vauxhall retail sites.
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The sites were sold to Eden (GM) Ltd for £14.3m, with the
disposal in line with Inchcape’s “stated strategy” to shed
“non-core UK assets” and focus on the premium segment where it
hopes to build a “scale position”, the retailer said.
The money raised by the sale would be poured into Inchcape’s
“fast-growing emerging markets businesses”, said group CEO André
Lacroix, who noted that the disposals “streamlined” Inchcape’s UK
business.
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