AutoCanada divests two stores in Alberta

AutoCanada (TSX:ACQ:CA) mentioned on Tuesday it has accomplished the divestiture of two Stellantis shops positioned in Alberta to enhance profitability and scale back leverage. These dealerships generated $86.5M in gross sales throughout the trailing 12-month interval ending June 30, 2024. Whole monetary consideration to AutoCanada (ACQ:CA) was paid in money on closing. Proceeds from the sale will probably be used to scale back the quantity excellent underneath the corporate’s revolving credit score facility. This transaction is predicted to be instantly accretive to Adjusted EBITDA margin and earnings per share.