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Shauna O'Brien Oct 02, 2014
The company, which will be renamed Berkshire Hathaway Automotive will operate 78 dealerships and more than 100 franchises in 10 states. Buffett noted that the strategy with this acquisition will include pursuing additional dealerships to acquire.
Buffett noted, “I fully expect we’ll buy a lot more dealerships over time.”
“We will hear, I predict, from hundreds of dealerships in the next year,” he added.
The deal is expected to close in the first quarter of 2015 and is subject to approvals from the major auto manufacturers and other regulatory conditions.
Below are the mutual funds with the largest stakes in Berkshire Hathaway.
|Symbol||Mutual Fund||Portfolio Weight|
|NYVTX||Davis NY Venture A||5.12%|
Be sure to check out Does Buffett Own It? to test your Berkshire acquisition knowledge.
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