Group 1 and Prestige Motor Car Imports have reached an “amicable and mutually beneficial” settlement in a dispute over Group 1’s acquisition of an Audi dealership from Prestige, Group 1 announced today. Group 1 sued Prestige after the Florida-based dealership group refused to sell an Audi store to Group 1 after the publicly-owned group thought the two sides had reached an agreement. Prestige claimed that the store had been under-valued.
Group 1 announced the settlement in a press release here:
