Mitsui pumps $120M into UAG

Mitsui pumps $120M into UAG

Byline: The Daily Deal

Japanese trading company Mitsui & Co. Ltd. said Wednesday it’s investing about $120 million in United Auto Group, raising its stake to 16% from 7.6%. Mitsui said this is the first step in converting its auto sales and financing into a major business unit. UAG is the second-largest group of auto dealers in the U.S. and handles sales for the U.S. Big Three automakers and Japan’s Toyota Motor Corp., Nissan Motor Co. Ltd. and Honda Motor Co. Ltd. .

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