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16 Dec 2021

Stephenson Harwood advises Simpson Group on sale of Interamericana Trading Corporation

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Law firm Stephenson Harwood LLP has advised the Simpson Group on the sale of Interamericana Trading Corporation (ITC) to Inchcape PLC, the global automotive distributor.

ITC is an independent automotive distributor in the Caribbean region, which operates in more than 30 countries - including Jamaica, Guadeloupe, Trinidad and Tobago and Martinique. The sale includes Simpson Motors which is a Barbados-based automotive retailer, and distributes passenger vehicles for Suzuki, Mercedes-Benz, Chrysler and Subaru, as well as commercial vehicles for Isuzu, Fuso, JBC, Bobcat and John Deere.

The transaction enables FTSE 250 car dealership Inchcape to expand its global reach and is expected to add approximately £120 million of annualised revenue. The deal remains subject to customary conditions and is expected to complete in H1 2022.

The Stephenson Harwood team was led by partner Duncan Stiles, who was supported by associate James Day. Partner Maryanna Sharrock and senior associate Kate Worthington advised on the tax aspects of the deal, alongside senior associate Tom Finden on discrete corporate aspects. The firm worked alongside law firm Mourant Ozannes and local counsel in a number of jurisdictions across the Caribbean region.

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