Marshall Motor GroupMarshall Motor Group


BCA and Cinch owner reaches acceptance level to buy Marshall Motor Group

  • Majority shareholder, which owns 64.41 per cent, agrees to £325m offer
  • Marshall investors who haven’t yet accepted offer are being urged to do so by February 12
  • If 90 per cent acceptance is reached, Constellation will compulsorily buy the rest
  • Eventual aim is to take Marshall off the stock market

Time 3 weeks ago

The owner of BCA and Cinch has reached the acceptance threshold needed to buy Marshall Motor Group.

In an announcement via the London Stock Exchange, Constellation Automotive Holdings said its wholly owned subsidiary CAG Vega 2 Ltd, via which the buyout is being made, had received valid acceptance of its offer by majority shareholder Marshall of Cambridge (Holdings) Ltd (MCH).

Constellation – which also owns WeBuyAnyCar – is paying £325m to snap up the 64.41 per cent stake held by MCH, totalling 50,390,625 shares.

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It is urging any Marshall shareholders who haven’t yet accepted its offer of 400p per share to do so by 1pm on February 12.

If it manages to acquire 90 per cent, it will then seek to compulsorily buy the remaining shares.

Constellation’s eventual aim is to take Marshall off the stock market and run it as a private concern.

As reported by Car Dealer, the buyout move took the Marshall board by surprise, and its non-executive directors are expected to resign once it’s completed.

Chief executive Daksh Gupta has been banned from talking to the press in the meantime.

Marshall is the sixth most profitable dealer business in the UK according to the Car Dealer Top 100. Its shares were down 1p at 392p today (Jan 4) when the stock market reopened after the new year break.

BCA and Cinch owner Constellation lays out its plans for Marshall Motor Group

Offer for Marshall Motor Group made by BCA and Cinch owner Constellation

Marshall Motor Group could be sold to BCA and Cinch owner

John Bowman's avatar

John has been with Car Dealer since 2013 after spending 25 years in the newspaper industry as a reporter then a sub-editor/assistant chief sub-editor on regional and national titles. John is chief sub-editor in the editorial department, working on Car Dealer, as well as handling social media.

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