Eagers Automotive Limited (ASX:APE) entered into a non-binding agreement to acquire Portfolio of dealerships and key properties in Melbourne, Victoria for AUD 240 million on October 10, 2023. The transaction is subject to customary conditions precedent including approval of shareholders of Eagers Automotive Limited, OEM consent, finalization of due diligence, transaction documentation, finance approval and landlord consents. As of November 15, 2023 Eagers Automotive Limited executed binding agreements with group of companies associated with Nick Politis.