Turners in $15.3 mln deal for Auckland's Buy Right Cars

Tue, 12 Jul 2016

By Paul McBeth July 12 (BusinessDesk) - Turners Group, the financial services firm, will buy Auckland used car importer and dealer network Buy Right Cars for $15.3 million in cash and shares, which it says will give it a bigger presence in the country's biggest city. Auckland-based Turners will pay about $11.9 million in cash and $3.4 million in shares for Buy Right Cars, with $6 million based on the dealership's performance over the next two years, the company said in a statement. The deal is subject to bank funding terms becoming uncon...

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