LKQ Corporation (Nasdaq: LKQ) 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.”
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