Group 1 finalizes acquisition of 27 Prime stores; original deal called for 30 stores

Group 1 finalizes acquisition of 27 Prime stores; original deal called for 30 stores

Team 1 Automotive Inc. has completed the acquire of 27 dealerships from Prime Automotive Team — about a 7 days in advance of its planned date to shut on the mega transaction it declared in September that was expected to expense $880 million. Team 1, of Houston, mentioned the closing to day bundled “substantially all

Prime Automotive’s majority owner GPB agrees to pay former CEO Rosenberg M in settlement

Prime Automotive’s majority owner GPB agrees to pay former CEO Rosenberg $30M in settlement

Primary Automotive Group’s the vast majority operator GPB Funds Holdings agreed to pay back New England vendor and previous Primary CEO David Rosenberg $30 million to settle a lawsuit filed by Rosenberg in 2019, in accordance to a Monday regulatory filing. The settlement arrives inside times of GPB’s prepared sale of Prime dealerships to Team