financetom
Business
financetom
/
Business
/
Penske Automotive Group to Acquire Porsche Centre Melbourne
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Penske Automotive Group to Acquire Porsche Centre Melbourne
Oct 31, 2024 9:12 PM

03:49 AM EDT, 10/24/2024 (MT Newswires) -- Penske Automotive Group ( PAG ) said late Wednesday it has agreed to acquire Porsche Centre Melbourne from Porsche Retail Group Australia.

The company said the acquisition, expected to close by year-end, will add $130 million in estimated annualized revenue.

Financial terms weren't disclosed.

Price: 152.36, Change: +0.58, Percent Change: +0.38

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Google agrees $36 million fine for anti-competitive deals with Australia telcos
Google agrees $36 million fine for anti-competitive deals with Australia telcos
Aug 17, 2025
SYDNEY, Aug 18 (Reuters) - Google agreed on Monday to pay a A$55 million ($35.8 million) fine in Australia after the consumer watchdog found it had hurt competition by paying the country's two largest telcos to pre-install its search application on Android phones, excluding rival search engines. The fine extends a bumpy period for the Alphabet-owned internet giant in Australia,...
Hyundai exits India's Ola Electric, Kia cuts stake in $80 million share sale
Hyundai exits India's Ola Electric, Kia cuts stake in $80 million share sale
Jun 3, 2025
(Reuters) -Hyundai Motor ( HYMTF ) sold its entire stake in Ola Electric, while rival South Korean carmaker Kia trimmed its holding, in a combined share sale worth 6.89 billion rupees ($80 million), according to exchange data. Hyundai, which held a 2.47% stake in the company, sold shares at a price of 50.70 rupees, while Kia offloaded 0.6% of Ola...
Chinese airlines considering ordering hundreds of Airbus jets, Bloomberg News reports
Chinese airlines considering ordering hundreds of Airbus jets, Bloomberg News reports
Jun 3, 2025
(Reuters) -Chinese airlines are considering ordering hundreds of Airbus SE aircraft as soon as next month, Bloomberg News reported on Wednesday, citing people familiar with the matter. Reuters could not immediately confirm the report. ...
Remy Cointreau withdraws mid-term goals, posts lower annual profits
Remy Cointreau withdraws mid-term goals, posts lower annual profits
Jun 3, 2025
PARIS (Reuters) -French spirits group Remy Cointreau reported a smaller-than-expected 30.5% drop in annual organic operating profit, withdrew its mid-term goals and said sales would return to mid-to-single-digit growth during the next financial year. The company, which makes Remy Martin cognac and Cointreau liqueur, said on Wednesday that the lower profits reflected weak sales in its key markets of China...
Copyright 2023-2026 - www.financetom.com All Rights Reserved