Group 1 announced the acquisition of David Taylor Cadillac Buick GMC in Houston, and opens up a FIAT and two Volkswagen dealerships in California and Texas.
Group 1 Automotive’s syndicated credit facility will provide $1.1 billion for inventory floorplan financing and $250 million for working capital, acquisitions and general corporate purposes.
Group 1 Automotive Inc.'s adjusted net income increased 48.5 percent to $15.5 million for the quarter ended March 31.
Group 1 Automotive Inc., a Fortune 500 automotive retailer, announced today that Mercedes-Benz Financial has signed on as a partner to its existing $1.35 billion revolving credit facility that expires in March 2012. Mercedes-Benz Financial replaces BNP Paribas in the syndicated facility.
Group 1 Automotive Inc. reported second quarter adjusted net income from continuing operations of $10.3 million, down 42.4 percent, or $17.8 million, from the year-ago period.
Automotive retailer Group 1 Automotive Inc. said today that it reduced the borrowing capacity under its credit arrangement with Ford Motor Credit Company for floorplan financing from $300 million to $150 million, with no change to the terms or pricing.
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