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Group 1 Automotive's 3% notes convertible for quarter ending March 31
By Marisa Wong
Madison, Wis., Jan. 8 - Group 1 Automotive, Inc.'s 3% convertible senior notes due 2020 are convertible during the quarter ending March 31, according to an 8-K filed with the Securities and Exchange Commission.
The company notified holders on Monday that an event triggering convertibility of the notes occurred on Dec. 31.
The last reported sale price of Group 1's common stock for at least 20 trading days in the final 30 consecutive trading-day period for the quarter ended Dec. 31 was greater than or equal to 130% of the conversion price in effect.
Group 1 is a Houston-based owner and operator of automotive dealerships, franchises and collision service centers.
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