Penske Automotive Group to Go Private in $16.3 Billion Deal
The transportation services company has agreed to be taken private by its largest investors.
Business & Markets • 2 hours ago
Penske Automotive Group has agreed to be taken private by its primary investors in a transaction that values the transportation services company at an enterprise value of approximately $16.3 billion.
The deal was announced Tuesday, with Penske and Mitsui & Co. emerging as the key partners in the privatization effort.
Further details regarding the terms of the agreement and the specific contributions of each investor are expected to be released as the transaction progresses through regulatory approvals and closing conditions.