Leeds firm drives into multi-million-pound joint venture with Auto Trader
Auto Trader Group, the UK's largest digital automotive marketplace, is to create a joint venture with Leeds-based Cox Automotive to provide a "leading digital marketplace" for wholesale vehicles in the UK.
As part of the JV agreement, which has to be authorised by the Competition and Markets Authority, will see listed Auto Trader contribute assets valued at £28.7m (book value £8.6m) and pay £19.7m in cash to Cox Automotive. Cox will contribute assets valued at £70.1m.
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