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AWG Asbury Automotive Dl 01

254.00
0.00 (0.00%)
16:15:01 - Realtime Data
Share Name Share Symbol Market Type
Asbury Automotive Dl 01 TG:AWG Tradegate Ordinary Share
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 254.00 252.00 254.00 0.00 16:15:01

Disposal: AWG Plc sells its Powermarque business

23/12/2003 7:12am

UK Regulatory


    23 December 2003

                    AWG Plc sells its Powermarque business                     

AWG Plc announces the sale of its vehicle leasing business, Powermarque
Limited, to Venson Holdings Limited, a subsidiary of Venson Group plc, a
vehicle outsourcing company. AWG will receive £34.5 million in cash, and the
pro-forma impact of this disposal will be a reduction of £18.9 million in AWG's
group net debt as at 30 September 2003.

Powermarque had net cash, before intercompany loans, of £15.6 million at 30
September 2003.

For the financial year ended 31 March 2003, Powermarque made a loss after tax
of £1.0 million.

Ends

Contact:

Adrian Smith, head of communications, 01480 323017

Anthony Cardew, Cardew Chancery, 0207 930 0777



END



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