CMO 0.25% $8.15 the colonial motor company limited ordinary shares

Ann: ASSET: CMO: Business acquisiton

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    					CMO
    24/07/2014 16:54
    ASSET
    
    REL: 1654 HRS The Colonial Motor Company Limited
    
    ASSET: CMO: Business acquisiton
    
    The board of The Colonial Motor Company Limited (CMC) is pleased to announce
    that it has today entered into an unconditional contract to purchase the
    business of Jeff Gray European Limited.
    
    The business consists of four BMW dealerships in Wellington, Christchurch,
    Hastings and Palmerston North. The Wellington and Christchurch dealerships
    include Mini Garages.
    
    The BMW franchise will operate through a separate, wholly-owned subsidiary
    with its own management team and will carry on trading from its current
    facilities in all four centres under the name of Jeff Gray BMW.
    
    Settlement will be on 18 August.
    CMC will announce its preliminary full year result on 20 August.
    End CA:00253061 For:CMO    Type:ASSET      Time:2014-07-24 16:54:22
    				
 
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