Uni-Select Inc. received the required approval under the Investment Canada Act in connection with the previously announced plan of arrangement under the provisions of the Québec Business Corporations Act involving Uni-Select, LKQ Corporation and 9485-4692 Québec Inc., a wholly-owned subsidiary of LKQ Corporation.
The above-mentioned approval satisfies the closing condition regarding the Investment Canada Act set forth in the arrangement agreement between Uni-Select, LKQ Corporation and 9485-4692 Québec Inc. The arrangement remains subject to certain closing conditions, including the receipt of clearance from the U.K.
Competition and Markets Authority. As previously announced, if such clearance is obtained and the other conditions to closing are satisfied or waived, it is anticipated that the arrangement will be completed in the second half of 2023.