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In SPACs, dealers see viable option to go public

Going public via a SPAC could provide quick access to capital for a growing group to buy more stores or pay down debt

The flood of special-purpose acquisition companies on the market has some dealers exploring a new way to take their companies public. If the strategy comes to fruition, it could lead to the first expansion to the ranks of the six publicly traded franchised dealership groups since the last of them, Asbury Automotive Group Inc., went public in 2002.

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