secwatch.observer — SEC 8-K summary
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Issuer:     ASBURY AUTOMOTIVE GROUP INC (ABG)
CIK:        0001144980
Form:       8-K
Filed at:   2023-12-11T23:59:59+00:00
Accession:  0001144980-23-000134
Event type: m_and_a
Sentiment:  positive
Materiality: 0.85
Item codes: 2.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Asbury Automotive completes $1.2B acquisition of Jim Koons Automotive Companies
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- Acquisition adds 20 dealerships, 29 franchises, and 6 collision centers in VA, MD, DE.
- Expected annualized revenue of ~$3B from Koons; purchase price includes $740M goodwill.
- Funded via Asbury's existing credit facility and cash on hand.
- Koons is the 9th largest privately-held U.S. dealer group with top Toyota, Lexus, Mercedes franchises.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1144980/000114498023000134/0001144980-23-000134-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1144980/000114498023000134/abg-20231211.htm
  HTML page:      https://secwatch.observer/filing/0001144980-23-000134

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer