EBlock Sells US Physical Auctions
EBlock is selling its New Orleans and Houston physical auctions to America's Group, announced E Automotive Inc., EBlock's parent company, in a news release on Monday.
America's Group will acquire the auctions for approximately $11 million in cash, subject to customary purchase price adjustments.
- The deal is expected to close on Thursday.
- The closing is subject to customary terms and conditions.
No additional comments were provided by the companies.
E Automotive Inc., based in Canada, stated that the divestment is part of their strategy.
Author's summary: EBlock sells auctions to America's Group.