13 Jun 2013 | 09:12 am |
International law firm Pinsent Masons has advised The Co-operative Group on the strategic disposal programme relating to its motor dealership business. The Co-operative owned 12 motor dealerships which it has disposed of over the last 12 months via 7 separate transactions. The final transaction was the £31m sale of Albert Farnell Ltd, which comprised three Land Rover dealerships and a premium used car operation, to Vertu Motors plc.
The Co-operative has for a number of years owned a variety of successful motor dealerships including Nissan, Peugeot, Chrysler, Jeep, Fiat, Suzuki, Renault and Land Rover franchises. Farnell Land Rover is one of the best performing Land Rover franchises in the UK.
The Pinsent Masons team was led by partner Gregg Davison supported by senior associate Andy Phillips, associate Amie Norris and Property associate Matt Rowlands.
Commenting on the transaction Gregg Davison said, "We are delighted to have assisted the Co-operative Group on this strategic disposal programme. The team has worked hard to develop a consistent and efficient approach to the disposal programme allowing the Co-operative to achieve its objective."
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