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Related Party Transactions (Tables)
 12 Months Ended
Dec. 31, 2013
Related Party Transactions  
Schedule of automotive joint venture relationships

As of December 31, 2013, our automotive joint venture relationships were as follows:

 

Location

 

Dealerships

 

Ownership
Interest

 

Fairfield, Connecticut

 

Audi, Mercedes-Benz, Sprinter, Porsche, smart

 

83.57

%(A) (C)

Greenwich, Connecticut

 

Mercedes-Benz

 

80.00

%(B) (C)

Las Vegas, Nevada

 

Ferrari, Maserati

 

50.00

%(D)

Frankfurt, Germany

 

Lexus, Toyota

 

50.00

%(D)

Aachen, Germany

 

Audi, Lexus, Skoda, Toyota, Volkswagen, Citroën

 

50.00

%(D)

Northern Italy

 

BMW, MINI

 

70.00

%(C)

 

 

(A)    An entity controlled by one of our directors, Lucio A. Noto (the “Investor”), owns a 16.43% interest in this joint venture which entitles the Investor to 20% of the joint venture’s operating profits. In addition, the Investor has an option to purchase up to a total 20% interest in the joint venture for specified amounts.

 

(B)    An entity controlled by one of our directors, Lucio A. Noto (the “Investor”), owns a 20% interest in this joint venture which entitles the Investor to 20% of the joint venture’s operating profits.

 

(C)    Entity is consolidated in our financial statements.

 

(D)    Entity is accounted for using the equity method of accounting.