Group 1 Automotive (GPI) has released an update.
On February 12, 2024, Group 1 Automotive, Inc.’s subsidiaries entered into a master credit agreement with Wells Fargo Bank allowing for term loans up to $250 million, secured by properties and guaranteed by the parent company. The agreement, which restricts certain financial activities and matures in 2031, also permits property collateral expansion. Concurrently, the company acquired RRR Automotive Group, updated its disposition activity, and its Board set an annual dividend rate, with an upcoming dividend payment to shareholders on record.
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