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Old 01-16-2017, 01:45 PM   #1
Moshe @ Performance Brokerage Services
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Thumbs up Nissan exercises its ROFR again

We have recently closed on the sale of Hooman Nissan dealership in Signal Hill, CA.

The dealership was a Global 50 dealership !

The seller was Mr. Hooman Nissani.

Here again, Nissan exercised its Right of First Refusal and assigned the contract to Mr. Matt Stinson of Round Tree Automotive Group, based in Dallas, Texas.

Our best wishes go to Mr. Matt Stinson.

Moshe Stopnitzky, President
Performance Brokerage Services, Inc.
A New Car Dealership Brokers Firm
www.performancebrokerageservices.com
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Old 01-16-2017, 02:35 PM   #2
steve_biegler
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So someone else wanted it and negotiated a price but Nissan gave it to Stinson? Am I correct?
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Old 01-16-2017, 02:48 PM   #3
Moshe @ Performance Brokerage Services
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Yes, that is what happened. The APA was presented to Nissan for approval with another buyer. Nissan exercised its right of first refusal and assigned the contract to Mr. Stinson.
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Old 01-17-2017, 08:02 AM   #4
steve_biegler
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I guess I think that's just wrong. If the person that was taken out of the deal by the ROFR did all the negotiation and due diligence to put the deal together and walks away empty, that in my opinion is wrong, very wrong! Now if he wasn't credit worthy or there was another legitimate reason that is a different story.
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Old 01-17-2017, 01:04 PM   #5
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Congrats to Moshe on all these happy endings and optimistic beginnings.

I agree with SB as to ROFR.
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Old 08-10-2017, 04:55 PM   #6
XDCX
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Quote:
Originally Posted by Moshe @ Performance Brokerage Services View Post
We have recently closed on the sale of Hooman Nissan dealership in Signal Hill, CA.

The dealership was a Global 50 dealership !

The seller was Mr. Hooman Nissani.

Here again, Nissan exercised its Right of First Refusal and assigned the contract to Mr. Matt Stinson of Round Tree Automotive Group, based in Dallas, Texas.

Our best wishes go to Mr. Matt Stinson.

Moshe Stopnitzky, President
Performance Brokerage Services, Inc.
A New Car Dealership Brokers Firm
www.performancebrokerageservices.com
Moshe,

Congratulations on another successful transaction for Performance Brokerage Services.

It was interesting to read that Nissan had exercised their ROFR but I still extend my wishes of much success to Mr. Stinson on his new venture.
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Old 08-10-2017, 05:00 PM   #7
XDCX
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Quote:
Originally Posted by steve_biegler View Post
I guess I think that's just wrong. If the person that was taken out of the deal by the ROFR did all the negotiation and due diligence to put the deal together and walks away empty, that in my opinion is wrong, very wrong! Now if he wasn't credit worthy or there was another legitimate reason that is a different story.
I share your thoughts.

While I'm no expert I know some of the Buy/Sells that are initiated between Wall Street type companies include a "break-up fee" that is payable if a third party enters the transaction and ends up as the buyer or the deal ultimately falls apart.

That said, I think the "break-up fee" is typically payable to the company that's potentially being acquired and not the company that initiates the potential purchase.
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Old 08-15-2017, 06:37 AM   #8
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That break up fee would have to be a "clause gifted to the dealer body" from Manufacturer. I have very much difficulty believing the manufacturers are that generous to their dealers these days. Before Obama took me out, I KNOW they would not have done that.
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