Lookers owner in new $1.2bn EU deal

Lookers owner, Global Auto Holdings, is reportedly nearing a deal to buy one of Denmark’s largest retail groups, KW Brunn Import for $1.2bn (£900m) including debt. The deal could be announced as soon as Friday.

Global Auto Holdings, owned by Kuldeep Billan, last year purchased Lookers for £504m. Billan also owns Canada’s Alpha Auto.

The new push into Europe would make Global Auto one of the largest importers and sellers in the Nordics. Family-owned KW Brunn has operated for more than a century and represents 11 brands, majoring on the Stellantis group.

An Auto Retail Agenda source knowledgeable of the deal confirmed the story.