Fleet News

Ryland confirms takeover talks

MIDLANDS based motor distributor Ryland Group has revealed that it is in negotiations about a possible takeover. An official statement from the company issued this week, said: 'The board of Ryland announces that it's in discussions which may or may not lead to an offer being made for the entire share capital of the company.'

The Group includes both volume and specialist car dealerships, as well as the contract hire operation Ryland Multifleet, which operates a fleet of more than 8,000 vehicles. Confirmation that the company was in bid talks raised its share price 28p on Friday. Profits were at a record level in the year to April 30, 1996, up to £3.6 million on turnover of £313.8 million.

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