Walkers London acts on Inchcape's Acquisitions from Simpson Group

Walkers' London office is pleased to have acted as Cayman Islands counsel to Inchcape plc ("Inchcape") in relation to its acquisition of Interamericana Trading Corp. and Simpson Motors Limited from the Simpson Group.

Interamericana Trading Corp. is an independent automotive distributor in the Caribbean, where it currently distributes vehicles to over 30 territories, and Simpson Motors Limited is a full-service automotive retailer operating in Barbados.

Inchcape's entry into the Caribbean market pursuant to this transaction expands its distribution footprint in the Americas, and the acquired businesses are expected to add approximately £120 million of annualised revenue and be accretive to the Inchcape group's margins. The transaction remains subject to customary conditions and is anticipated to complete in the first half of 2022.

London-based partner, Neil McDonald, led the Walkers team advising Inchcape on Cayman Islands law with assistance from associates, Tom Esler and Catherine Outerbridge.

Mr. McDonald commented: "We are delighted to have assisted Inchcape in relation to this acquisition, which represents an exciting expansion of its geographic reach in the Americas region. Congratulations to Inchcape and everyone involved."

Walkers worked alongside Herbert Smith Freehills LLP on the transaction.