Lmp Automotive Holdings Inc

NASDAQ:LMPX   3:58:30 PM EDT
27.90
+4.35 (+18.47%)
4:11:59 PM EDT: $28.06 +0.16 (+0.57%)
Debt Financing / Related, Other Pre-Announcement, Mergers / Acquisitions

LMP Automotive Announces Deal Valued At $608 Million

Published: 10/09/2020 21:00 GMT
(LMPX) - Lmp Automotive Holdings - to Acquire 70% Interest in Atlantic Automotive Group, and to Acquire Atlantic Central Storage, in Deal Valued at $608 Million.
Lmp Automotive Holdings - Acquisition Expected to Add an Estimated $1.6 Billion in Revenue, Net Income of $3.18 per Share, on an Annualized Basis in 2021.
Lmp Automotive Holdings - Deal Expected to Be Funded With a Combination of Financings (including Seller Financing) and Lmp's Current Balance Sheet.
Lmp Automotive Holdings Inc - Atlantic Automotive Group's Management Will Continue to Operate Business Post Closing of Deal.