Inchcape plc is set to abort its plan to privatise its Singapore-listed subsidiary Inchcape Motors after a key shareholder announced it would block the bid. British investment company Guinness Peat Group, which has been mopping up Inchcape Motors’ shares, said it will reject Inchcape plc’s conditional cash offer of £GB0.90p a share to turn Inchcape Motors and its motor distribution business into a 100 per cent privately owned company.
 
Inchcape plc, the world’s largest motor agency, was looking to buy 90 per cent of shares in its subsidiary and then compulsorily acquire the remaining shares and take the company private.

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By Mark Rowe

Just Auto Excellence Awards - Nominations Closed

Nominations are now closed for the Just Auto Technology Excellence Awards. A big thanks to all the organisations that entered – your response has been outstanding, showcasing exceptional innovation, leadership, and impact.

Excellence in Action
Neonode has won the Innovation Award for Driver Monitoring Software for its camera-based, MultiSensing®-powered solution that delivers precise hands-on-wheel detection, regulatory-ready safety performance and low-footprint integration. Discover how Neonode is redefining driver monitoring, UX and compliance for next-generation semi-autonomous vehicles.

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