Crown Group to Acquire Majority Ownership of Smart Choice Automotive Group; Crown's 85%-Owned PAACO Automotive Group Subsidiary to Merge Into Smart Choice.

Business Wire › August 27, 1999

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Crown Group to Acquire Majority Ownership of Smart Choice Automotive Group; Crown's 85%-Owned PAACO Automotive Group Subsidiary to Merge Into Smart Choice.

DALLAS--(BUSINESS WIRE)--Aug. 27, 1999--

Crown Group, Inc. (Nasdaq: CNGR) and Smart Choice Automotive Group, Inc. (Nasdaq: SMCH) today announced that they have entered into a nonbinding Letter of Intent which provides for the following:

-- The merger of Paaco Automotive Group, Inc. into Smart Choice, in

exchange f...

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