CHICAGO and BOUCHERVILLE, QC, Aug. 1, 2023
/CNW/ - LKQ Corporation (Nasdaq: LKQ) ("LKQ") and Uni-Select
Inc. (TSX: UNS) ("Uni-Select") today announced the
completion of the previously-announced acquisition of Uni-Select by
9485‑4692 Québec Inc. (the "Purchaser"), a wholly-owned
subsidiary of LKQ by way of a plan of arrangement (the
"Arrangement") under the provisions of the Business
Corporations Act (Québec). Under the terms of the Arrangement,
the Purchaser has acquired all of the issued and outstanding shares
of Uni-Select for C$48.00 per share
in cash.
Consideration for the purchased shares of Uni-Select has been
remitted to Computershare Investor Services Inc., as depositary
under the Arrangement, and will be paid to former shareholders as
soon as reasonably practicable after the date hereof (or, in the
case of registered shareholders, as soon as reasonably practicable
after a properly completed and signed letter of transmittal is
received by the depositary together with the share certificate(s)
and/or Direct Registration System (DRS) Advice(s) representing
shares formerly held by them).
As a result of the completion of the transaction, the shares of
Uni-Select will be de-listed from the Toronto Stock Exchange
shortly and Uni-Select has applied to cease to be a reporting
issuer in all the provinces of Canada.
About Uni-Select
With over 5,200 employees in Canada, the U.S. and the U.K., Uni-Select is a
leader in the distribution of automotive refinish and industrial
coatings and related products in North
America, as well as a leader in the automotive aftermarket
parts business in Canada and in
the U.K. Uni-Select is headquartered in Boucherville, Québec, Canada, and its shares are traded on the
Toronto Stock Exchange under the symbol UNS.
In Canada, Uni-Select supports
over 16,000 automotive repair and collision repair shops and more
than 4,000 shops through its automotive repair/installer shop
banners and automotive refinish banners. Its network includes over
1,000 independent customer locations and more than 95
company-operated stores, many of which operate under the Uni-Select
BUMPER TO BUMPER®, AUTO PARTS PLUS® and FINISHMASTER® store banner
programs.
In the United States,
Uni-Select, through its wholly-owned subsidiary FinishMaster, Inc.,
operates over 145 automotive refinish company-operated stores under
the FINISHMASTER® banner, which supports over 30,000 customers
annually.
In the U.K., Uni-Select, through GSF Car Parts, is a major
distributor of automotive parts supporting over 20,000 customer
accounts with over 175 company-operated stores.
www.uniselect.com.
About LKQ
LKQ is a leading provider of alternative and specialty parts to
repair and accessorize automobiles and other vehicles. LKQ has
operations in North America,
Europe and Taiwan. LKQ offers its customers a broad range
of OE recycled and aftermarket parts, replacement systems,
components, equipment, and services to repair and accessorize
automobiles, trucks, and recreational and performance vehicles.
SOURCE Uni-Select Inc.