Penske automotive increases ownership interest in penske truck leasing stock market futures implied open

.

BLOOMFIELD HILLS, Mich., Sept. 7, 2017 /PRNewswire/ — Penske Automotive Group, Inc. ( PAG), an international transportation services company, announced today that it has acquired an additional 5.5% interest in Penske Truck Leasing Co., L.P. ("PTL"), a leading provider of transportation services and supply chain management, from subsidiaries of GE Capital Global Holdings, LLC, for approximately $239 million. The purchase price was funded using the existing liquidity on the company’s U.S. credit agreement.

By acquiring the additional 5.5% ownership interest in PTL, the company expects to realize earnings accretion, additional cash flow from cash tax savings and an increase in the annual cash distribution PTL provides to its partners binary translation. The company estimates the earnings per share accretion from this transaction of $0.10 per share on an annualized basis.


PAG will continue to account for the ownership interest in PTL using the equity method of accounting and will record its share of PTL’s earnings under the caption "Equity in earnings of affiliates" in its statement of income.

At the same time, Mitsui & Co., Ltd. ("Mitsui"), our second largest shareholder, acquired an additional 10% ownership interest in PTL at the same valuation. After completion of these transactions, PTL is owned 41.1% by Penske Corporation, 28.9% by Penske Automotive Group, and 30% by Mitsui.

Penske Automotive Group, Inc., ( PAG) headquartered in Bloomfield Hills, Michigan, is an international transportation services company that operates automotive and commercial truck dealerships principally in the United States, Canada and Western Europe, and distributes commercial vehicles, diesel engines, gas engines, power systems and related parts and services principally in Australia and New Zealand marketing future trends. PAG employs more than 25,000 people worldwide and is a member of the Fortune 500 and Russell 2000 gold graph. For additional information visit the company’s website at www.penskeautomotive.com.

Statements in this press release may involve forward-looking statements, including forward-looking statements regarding Penske Automotive Group, Inc.’s future earnings accretion potential. Actual results may vary materially because of risks and uncertainties that are difficult to predict. These risks and uncertainties include, among others: economic conditions generally, conditions in the credit markets and changes in interest rates and foreign currency exchange rates, adverse conditions affecting a particular manufacturer, including the adverse impact to the vehicle and parts supply chain due to natural disasters, recall or other disruptions that interrupt the supply of vehicles or parts to us, changes in consumer credit availability, the outcome of legal and administrative matters, and other factors over which management has limited control current us stock market futures. These forward-looking statements should be evaluated together with additional information about Penske Automotive’s business, markets, conditions and other uncertainties, which could affect Penske Automotive’s future performance. These risks and uncertainties are addressed in Penske Automotive’s Form 10-K for the year ended December 31, 2016, and its other filings with the Securities and Exchange Commission ("SEC") usd zar forecast. This press release speaks only as of its date, and Penske Automotive disclaims any duty to update the information herein.

Eric Chase Bolling, son of former Fox News host Eric Bolling, reportedly died on Friday night, shortly after Fox News announced it would be ending its relationship with his father usa today subscription. Eric Bolling’s son, who went by “Chase” on Facebook, was his only child. According to Chase Bolling’s Facebook profile, he was studying economics at the University of Colorado at Boulder.

The most fascinating thing on the internet right now is a livestream of the continental United States’ southernmost point, located in Key West, Florida. On a normal day you can see people taking selfies next to a big anchored concrete buoy in front of a placid ocean; today, as “the most catastrophic storm” in Florida’s history nears landfall, you can see people taking selfies near an increasingly violent ocean usd to inr converter. Hopefully, better judgement will soon prevail among the denizens of Key West, and the livestream will transition to an interesting place to watch the sea level rise, hurting no one free tutorial for excel. Let’s be clear: this is immensely dangerous and anyone in the area should immediately seek shelter. But,

Lord Christopher Smith, the outgoing chairman of the Advertising Standards Authority, has said the UK would benefit from a body to independently verify the claims made by politicians after the “misleading” EU referendum campaign that resulted in the decision to leave the EU 1 usd to try. Lord Smith, who describes himself as a “proud and passionate Remainer”, also said that the British public should have the chance to vote in a second referendum once the terms of the exit deal are clear. The Advertising Standards Authority, which addresses complaints from the public about misleading or inappropriate advertising, checked some claims made by politicians in broadcast advertising until 1999.

North Korea’s "reckless behavior" is a global threat and requires a global response, the head of the NATO military alliance said on Sunday. NATO has not been directly involved in the crisis, which saw Pyongyang carry out its sixth and most powerful nuclear test a week ago, but has repeatedly called on North Korea to abandon its nuclear and ballistic missile programs. "The reckless behavior of North Korea is a global threat and requires a global response and that of course also includes NATO," NATO head Jens Stoltenberg said in an interview with BBC television.

Here’s one simple lesson to be learned from the initial public offerings of Facebook (FB), Alibaba (BABA), Snap (SNAP) and Square (SQ): Big-buzz IPOs don’t always live up to the hype – at least not at first. XAutoplay: On | OffBuying a stock right when it has an IPO is a high-risk proposition, regardless of how convincing the hype may seem. Facebook, Alibaba, Snap and Square all headed south from their second week of trading, providing clear examples of why you should wait for a new IPO to form its first base before you invest 100 eur usd. It’s an important rule to keep in mind as we wait for the market debuts of Uber, Airbnb and others in the next crop of initial public offerings. IPO Lessons Learned From

Now the tortured relationship between President Donald Trump and House Speaker Paul Ryan has gone cool again, with the Republican president making clear he has no qualms about bucking the GOP leader to cut deals with his Democratic foes. The two men dined at the White House Thursday night and discussed legislative challenges ahead for the fall, a get-together that was scheduled over Congress’ August recess, long before the head-spinning events of this week. In a moment that stunned Washington, Trump cut a debt and disaster aid deal Wednesday with Congress’ Democratic leaders as Ryan and Senate Majority Leader Mitch McConnell watched on helplessly, after lobbying unsuccessfully for much different terms.

As this weekend passes, we may learn that North Korea has launched more missiles or some such, this time to celebrate its 69th anniversary. Then again, there has been little correlation between key anniversaries and its weapons tests; instead, Pyongyang seems more intent on spitefully ruining long weekends and international meetings. Launch or not, rest assured Pyongyang will continue to evade sanctions, advance its weapons technology, and threaten its enemies, especially the US. (And, oh yes, sell arms.) To many Americans, it’s puzzling that North Korea is trying to intimidate the US with its ballistic missile launches and nuclear weapons tests, including its sixth and most powerful last weekend.


banner