FOUR Reg Vardy car dealerships in York and North Yorkshire are soon likely to be under new ownership as part of a £420 million deal.

They are among 49 dealerships which the Sunderland-based firm has agreed to sell to rival Pendragon, whose combined total of franchises nationally soars to 350.

If shareholders agree, the York Citroen dealership in Lawrence Street, York; a BMW and Mini dealership under the same roof in Victoria, Harrogate; and a Renault dealership in Wetherby Road, Harrogate, will be included in the package.

Rumours of the deal saw Reg Vardy shares closing at 748.5 pence last Friday. The deal is worth 750 pence per share.

Updated: 10:50 Friday, November 25, 2005