M&A - ASBURY AUTOMOTIVE GROUP INC

Form Type: 8-K

Filing Date: 2025-06-06

Corporate Action: Acquisition

Type: Update

Accession Number: 000114498025000111

Filing Summary: On June 6, 2025, Asbury Automotive Group, Inc. announced the expected closing of its previously disclosed acquisition of various automotive dealerships owned by The Herb Chambers Companies by the end of July 2025. The acquisition is subject to customary closing conditions, including approval from applicable licensing agencies. The document includes forward-looking statements regarding the acquisition and its potential risks, emphasizing the possibility of not consummating the acquisition due to various uncertainties.

Form Type: 8-K

Filing Date: 2025-04-09

Corporate Action: Acquisition

Type: Update

Accession Number: 000114498025000094

Filing Summary: On April 9, 2025, Asbury Automotive Group, Inc. reported an amendment to its existing Fourth Amended and Restated Credit Agreement, known as the 2023 Senior Credit Facility. This amendment includes significant adjustments to the financial terms. Specifically, the aggregate commitments of the revolving credit facility will increase from $500 million to $925 million, and the aggregate commitments for the new vehicle floor plan facility will rise from $1.925 billion to $2.25 billion. Notably, these increases are contingent upon the successful completion of the previously announced acquisition of the Herb Chambers automotive group. Additionally, it is indicated that there are various commercial relationships between the lenders involved and the Company, which may entail customary fees and expenses.