Pendragon sells US dealership

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Nottingham’s Pendragon has sold its Chevrolet motor vehicle dealership in Puente Hills, California.

Scott Biehl, the operator of a privately owned dealership group, is to buy the dealership in a £17.2 million deal.

The sale is in line with Pendragon’s strategy of disposing of its US Motor Group and follows the disposal of two dealerships in California for approximately £60 million, which was announced in May.

The Company will make a further announcement upon completion of the Transaction or earlier in the event that the Transaction will not proceed to completion.

The Company is to continue disposing of the remainder of its US Motor Group.