According to SEC filings, GPB Automotive Portfolio LP entered into an agreement with Group 1 Automotive, Inc. on September 12, 2021, to sell Prime Automotive for $880 million, consisting of 30 car dealerships and three collision centers located in the Northeast of the United States. According to a press release issued by Group 1 Automotive, Inc., the Prime Automotive dealerships generated $1.8 billion in annual revenues in 2020.
The future of GPB Automotive Portfolio, LP remains uncertain. Investors of GPB Automotive Portfolio LP are encouraged to act now and contact a securities arbitration law firm for a free consultation and review of their legal rights.
Iorio Altamirano LP is a securities arbitration law firm that represents GPB Automotive.