Inchcape Derco takeover cleared by Peru

Auto distributor Inchcape said Peruvian authorities had cleared its planned £1.3bn takeover of Derco, with completion of the deal expected to take place by the end of the year.

The green-light follows approval from Inchcape’s shareholders last week. Derco is the biggest automotive distributor in Latin America and runs sites in Chile, Peru, Colombia and Bolivia.

Reporting by Frank Prenesti for Sharecast.com