LKQ Corporation Completes Sale of Two Czech Distributors

Written by Customer Service on . Posted in Public Companies.

CHICAGO, Feb. 28, 2020 (GLOBE NEWSWIRE) — LKQ Corporation (Nasdaq: LKQ) today announced that it has closed its previously announced agreement to sell its equity interests in two Czech wholesale automotive parts distributors to Swiss Automotive Group AG. Terms of the transaction were not disclosed.
Dominick Zarcone, President and Chief Executive Officer of LKQ, stated, “This divestiture reinforces our ongoing commitment to rationalizing our European asset base and divestiture of non-core businesses. We are confident that the local management will continue to drive results in the Czech Republic for the SAG Group, and we wish them both continued success in the future.”About LKQ CorporationLKQ Corporation (www.lkqcorp.com) is a leading provider of alternative and specialty parts to repair and accessorize automobiles and other vehicles.  LKQ has operations in North America, Europe and Taiwan. LKQ offers its customers a broad range of replacement systems, components, equipment and parts to repair and accessorize automobiles, trucks, and recreational and performance vehicles.About LKQ EuropeLKQ European Holdings, B.V., a subsidiary of LKQ Corporation, is the leading distributor of automotive aftermarket parts for cars, commercial vans and industrial vehicles in Europe. It currently employs more than 27,000 people in 21 European countries, serving 700,000 customers through its network of 1,100 branches.The group is represented by Euro Car Parts Limited, Fource Holding B.V., LKQ Italia S.r.l., Elit Group Ltd., Auto Kelly a.s., Stahlgruber GmbH, as well as recycling specialist, Atracco Group AB. LKQ also holds a minority interest in Mekonomen AB.About SAG GroupWith an annual turnover of over CHF 1 billion, the SAG Group is one of the largest providers in the independent automotive spare parts sector in Europe. With a range of over 800,000 catalogue- and 370,000 warehouse items, SAG is the market leader for car and commercial vehicle spare parts in Switzerland, Romania and Serbia, the number three in Austria and with a good market presence in Belgium, Germany, Italy, Portugal, Slovakia, Slovenia, Spain and Hungary. SAG employs over 3,200 people. Contact:                                                          Joseph P. Boutross- Vice President, Investor Relations                                                                         
LKQ Corporation                                                                      
1-(312) 621-2793                                                                       
jpboutross@lkqcorp.com                                                         

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Cookie Notice

We use cookies to improve your experience on our website

Information we collect about your use of Goldea Capital website

Goldea Capital website collects personal data about visitors to its website.

When someone visits our websites, we use a third party service, Google Analytics, to collect standard internet log information (such as IP address and type of browser they’re using) and details of visitor behavior patterns. We do this to allow us to keep track of the number of visitors to the various parts of the sites and understand how our website is used. We do not make any attempt to find out the identities or nature of those visiting our websites. We won’t share your information with any other organizations for marketing, market research or commercial purposes and we don’t pass on your details to other websites.

Use of cookies
Cookies are small text files that are placed on your computer or other device by websites that you visit. They are widely used to make websites work, or work more efficiently, as well as to provide information to the owners of the site.