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Hedin Mobility Group AB (publ)

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Statement regarding Pendragon PLC
2023-10-04 15:45:00

In accordance with Rule 2.8 of the London Stock Exchange’s City Code on Takeovers and Mergers (the “Code”), Hedin Mobility Group AB (publ) and PAG International Ltd. confirm that they do not intend to make an offer for Pendragon PLC.

On September 20, 2023, Pendragon PLC ("Pendragon") announced that it had received a possible offer from Hedin Mobility Group AB (publ) (“Hedin”) and PAG International Ltd. (“PAG”).

Hedin and PAG confirm that they do not intend to make an offer for Pendragon.

Accordingly, except with the consent of the Panel on Takeovers and Mergers (the “Takeover Panel”), Hedin and PAG, and any person acting in concert with Hedin and PAG, is bound by the restrictions under Rule 2.8 of the Code.

For the purposes of Rule 2.8 of the Code, Hedin and PAG (and any person(s) acting in concert with them) reserve the right to make or participate in an offer for Pendragon (and/or take any other actions which would otherwise be restricted under Rule 2.8 of the Code) within the next six months following the date of this announcement:

  1. with the agreement or recommendation of the board of Pendragon;
  2. following the announcement of a firm intention to make an offer for Pendragon, by or on behalf of a third party;
  3. following the announcement by Pendragon of a Rule 9 waiver proposal (as described in Note 1 of the Notes on Dispensations from Rule 9) or a reverse takeover (as defined in the Code); and/or
  4. if there has been a material change of circumstances (as determined by the Takeover Panel).

Media inquiries:
Prosek Partners
+44 (0)7773331589

Contact

Magnus Matsson
PR & Communication Manager, Hedin Mobility Group
+46 31 790 00 82
ir@hedinmobilitygroup.com

This information is information that Hedin Mobility Group AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2023-10-04 15:45 CEST.

About Hedin Mobility Group

Hedin Mobility Group is one of Europe's largest mobility providers, with more than 10,000 employees and operations in 14 countries. In 2022, Net sales amounted to SEK 52.7 billion (approx. €4.8 billion) and the Group sold more than 180,000 vehicles.
 
Our operations consist of three main business areas:

  • In Distribution, we are a significant importer/distributor of vehicles, spare parts, tires, rims and wheels as well as accessories on the European market. We are importer and/or distributor for BYD, Dodge and RAM, Ford and Ford F-150, Hongqi, INEOS Grenadier, MG as well as Renault, Dacia and Alpine. Within spare parts we are, among other things, an authorised partner for GM and Mopar in Europe as well as the exclusive global supplier of Saab Original parts.
  • In Retail, we represent over 40 brands and provide a comprehensive offer – sales, financing, insurance, and aftermarket services – comprising new and used passenger cars, commercial vehicles, and trucks to both private and corporate customers. Sales take place both online and via a European dealer network comprising more than 300 own dealerships with a total of over 700 sales points under names such as Hedin Bil, Bavaria, Hedin Automotive, Motor-Car, Torpedo Gruppe, Stephen James, Delta Auto and Renova.
  • In Mobility solutions, we address new user needs and sales models in the automotive industry by providing and developing innovative services. Through Carplus, Unifleet, MABI Mobility and Hedin Supercharge, users are offered various flexible and morden mobility solutions.

Hedin Mobility Group's operations also include Hedin IT, which provides the Group with high-end operations, support and digital development, as well as strategic investments in Pendragon PLC, Lasingoo Sverige, Casi (formlerly Imove), and Mercedes-Benz Financial Services Slovakia.
 
Read more on www.hedinmobilitygroup.com
 
Part of Hedin Group
Hedin Mobility Group is part of the Hedin Group together with the Tuve Bygg group and I.A. Hedin Fastighet AB. Hedin Group is also a partner in Consensus Asset Management and Ripam Invest AB, which owns Marstrands Kurhotell, Kurbadhus and Societetshus.
 
www.hedingroup.com

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