GPB Capital sells automotive assets to Group 1 for $880 million

GPB Capital sells automotive assets to Group 1 for $880 million

Private-equity firm GPB Capital Holdings LLC, which is currently facing fraud charges from the Securities and Exchange Commission and more than half a dozen states, is selling its Prime Automotive Group of car dealerships for about $880 million.

Sale by GPB Automotive Portfolio LP to Houston-based Group 1 Automotive Inc., the unit created by the New York firm for its auto dealer properties includes 30 stores and three collision repair shops in the Mid-Atlantic and Northeast markets. Regulatory filing Monday.

NS…

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