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Article: Intelligent Motor Cars Terminates Transaction.
- Article from:
- Business Wire
- Article date:
- January 17, 2003
CopyrightCOPYRIGHT 2003 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Business Editors/Automotive Writers
FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--Jan. 17, 2003
Intelligent Motor Cars, Inc., d/b/a Sun Auto Leasing & Sales announced today that it has terminated the planned share exchange with Joshua Tree Construction due to previously unknown matters that arose immediately prior to closing the transaction.
"We are a very reputable company with great history and great promise," said Jerry Scalzo, IMC's President and CEO. "We worked very hard to complete this transaction yet, despite our good faith efforts, previously unknown matters arose at the 11th hour which made it impossible for us to move forward." Intelligent ...