Lithia & Driveway (NYSE: LAD, “Lithia”) announced today that it intends to enter a strategic partnership with Pinewood Technologies and acquire the UK motor and fleet management divisions of Pendragon plc (“Pendragon”), the UK’s third largest automotive dealership group. This acquisition will round out Lithia’s presence in the UK market and is expected to generate over $4.5 billion USD in annual revenues. Transaction OverviewAbout the TransactionLithia and Pendragon have signed agreements to enter a strategic partnership with Pinewood...