secwatch.observer — SEC 8-K summary
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Issuer:     ASBURY AUTOMOTIVE GROUP INC (ABG)
CIK:        0001144980
Form:       8-K
Filed at:   2023-09-08T23:59:59+00:00
Accession:  0001193125-23-231116
Event type: m_and_a
Sentiment:  positive
Materiality: 0.85
Item codes: 1.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Asbury Automotive to acquire Jim Koons dealerships for ~$1.2B, adding 20 stores in Mid-Atlantic
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- Purchase price ~$1.2B ($740M goodwill, $417M real estate) for 20 dealerships, 6 collision centers, 29 franchises.
- Jim Koons group generated over $3B revenue in 2022; Asbury calls deal transformative for its Mid-Atlantic expansion.
- Transaction not subject to financing condition; expected close Q4 2023 or early Q1 2024.
- Asbury plans to fund with existing liquidity, credit facility, and cash on hand.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1144980/000119312523231116/0001193125-23-231116-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1144980/000119312523231116/d494750d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-231116

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