AutoCanada (TSE:ACQ) has released an update.
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AutoCanada has completed the sale of Okanagan Chrysler to Kot Auto Group, a strategic move aimed at boosting profitability and reducing debt. The sale generated $10 million in cash, which will be used to lower the company’s revolving credit facility. This transaction is expected to enhance AutoCanada’s financial performance by improving its Adjusted EBITDA margin.
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