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Under terms of the non-binding letter of intent, General Automotive would issue 4 million shares of restricted common stock to the owners of EPI. EPI's stockholders could gain an additional 4 million shares over the next six years.
Deal Type Acquisition Sub-Category Majority Acquisition Deal Status Announced: 2009-05-05
Deal Participants
Target (Company) Europacific Parts International, Inc. Acquirer (Company) General Automotive Company
Deal Rationale
The transaction is expected to further position General Automotive Company to capitalize on growing consumer preferences for extending the life of their vehicles in the current economic downtown.
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