secwatch.observer — SEC 8-K summary
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Issuer:     ASBURY AUTOMOTIVE GROUP INC (ABG)
CIK:        0001144980
Form:       8-K
Filed at:   2021-12-17T23:59:59+00:00
Accession:  0001144980-21-000152
Event type: m_and_a
Sentiment:  positive
Materiality: 1.00
Item codes: 1.01, 2.01, 2.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Asbury completes $3.2B acquisition of Larry H. Miller Dealerships and Total Care Auto
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- Purchase price $3.2B for 54 new-vehicle dealerships, 7 used-car stores, 11 collision centers, a wholesale business, and an F&I product provider.
- Financed with $689.7M real estate term loan plus other debt and cash; loan bears SOFR+1.55%-1.95% or Base Rate+0.55%-0.95%.
- Acquired assets expected to add ~$5.7B annualized revenue and $473M LTM adjusted EBITDA (incl. day-one cost savings).
- Expands Asbury into six Western states: Arizona, Utah, New Mexico, Idaho, California, and Washington.
- Total Care Auto (TCA) service-contract provider to be deployed across Asbury's national store footprint.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1144980/000114498021000152/0001144980-21-000152-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1144980/000114498021000152/abg-20211217.htm
  HTML page:      https://secwatch.observer/filing/0001144980-21-000152

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