AP Eagers (ASX:APE) has sold its freehold properties in the Newcastle and Hunter Valley region to the Tony White Group.
The sale completed yesterday at a price of $52.9 million.
The sale will generate a profit before tax of approximately $13.4 million, subject to audit review.
The news follows the company’s acquisition of Automotive Holdings Group in October.
Shares in AP Eagers (ASX:APE) are trading 0.33 per cent higher at $12.19.